Current projects and consultations

This page provides an overview of ASIC’s projects for the current financial year, current consultations, and information on recent reforms.

Superannuation Projects

ASIC's vision is for a fair, strong and efficient financial system for all Australians. Our Corporate Plan outlines how we aim to achieve our vision through our strategic priorities and actions over the next four years.

In 2021-22, ASIC's work in superannuation will focus on:

• Establishing ourselves as the conduct regulator in superannuation - Ensuring effective implementation of superannuation conduct law reform, including new licensing requirements.
• Communications about performance - Monitoring the implementation of the Your Future Your Super reforms by conducting a surveillance of trustees' communications to their members. This includes performance test failure notifications and other disclosures sent to members by trustees with products that failed the test, and disclosures made by a sample of trustees whose products passed the test.
• Internal dispute resolution (IDR) in superannuation - Continuing to focus on implementation of IDR framework to assist the superannuation industry in its transition to Regulatory Guide 271 Internal dispute resolution (RG 271). This includes a planned surveillance of trustees on their compliance with the enforceable RG 271 requirements.
• Distribution reform implementation and surveillances - Support and monitoring implementation of the reforms through engagement and guidance as well as:
  • Reviewing trustees' use of the employer distribution channel by sampling a review of trustee practices.
  • Continuing our regular review of marketing by trustees, including proactive reviews of trustees' advertising.
• Supervision of whistleblower program - Continuing to monitor trustee compliance with the whistleblower requirements and handling of whistleblower.
• Retirement income calculators and projections - Consulting on and updating relief instruments and guidance.
• Insurance in superannuation - Conducting surveillance of superannuation trustees on issues raised by ASIC in 2019 and 2020, including those outlined in Report 633 Holes in the safety net: A review of TPD insurance claims (REP 633) and Report 675 Default insurance in superannuation: Member value for money (REP 675).

Read ASIC's Corporate Plan 2021-25

Current Consultations

Superannuation forecasts

ASIC released Consultation Paper 351 Superannuation forecasts: Update to relief and guidance (CP 351) to seek stakeholder feedback on proposed updates to relief and guidance for superannuation forecasting tools.

CP 351 was released on 18 November 2021. Comments close 28 January 2022.

See Consultation papers to view other ASIC consultation papers currently open for public comment.