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 disclosures.
  • 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

Visit the Consultation papers page to view ASIC consultation papers currently open for public comment.

We are always looking to improve our superannuation information and would like to know what’s important to you. Please leave us some feedback.

Note: This address is not for general enquiries about our services or advice. We suggest asking us a question online instead.

What's new

Conexus Retirement Conference opening remarks by Jane Eccleston and Suzanne Smith

17 August 2022

Opening remarks by Jane Eccleston, Senior Executive Leader, Superannuation, Australian Securities and Investments Commission, and Suzanne Smith, Executive Director of Superannuation, Australian Prudential Regulation Authority.

Read the speech

ASIC’s surveillance of internal dispute resolution in superannuation identifies concerns

10 August 2022

ASIC is examining superannuation trustees’ compliance with the new enforceable requirements in Regulatory Guide 271 Internal dispute resolution and has found indicators of significant compliance issues in the first stage of surveillance.

Read the media release

ASIC releases guidance for superannuation calculators and retirement estimates

5 July 2022

ASIC has released Regulatory Guide 276 Superannuation forecasts: Calculators and retirement estimates (RG 276) and a new legislative instrument updating the relief which facilitates the provision of superannuation calculators and retirement estimates.

Read the media release

ASIC warns super trustees to be transparent in their underperformance communications to members

24 June 2022

ASIC has released the findings from its review of superannuation trustees’ communications with their members following the first annual performance test for MySuper products.

Read the media release

Read the report

Avanteos Investments penalised $1.7 million for defective disclosure statements

15 June 2022

Avanteos Investments Limited, a former subsidiary of the Commonwealth Bank, has been convicted and penalised $1,710,000 by the County Court of Victoria for failing to update defective disclosure statements to superannuation members.

Read the media release

ASIC remakes relief on PDSs, superannuation dashboards and FSGs

14 June 2022

ASIC has remade and combined seven legislative instruments relating to specific financial services disclosure requirements.

Read the media release

Read the information sheet

Last updated: 05/07/2022 10:04