Superannuation - what's new

What's new

  • New legislative instruments

    ASIC has deferred the start date for the consistency requirements in s29QC of the Superannuation Industry (Supervision) Act 1993 until 1 February 2017 to align with the extension to the fee and cost transition for PDSs: see ASIC Superannuation (Amendment) Instrument 2015/1098, which modifies Class Order [CO 14/541] RSE licensee s29QC SIS Act disclosure exemption.

    ASIC has also issued ASIC Corporations (Amendment) Instrument 1073/2015 to extend the period of operation of Class Order [CO 10/630] Long-term superannuation returns indefinitely.
  • ASIC reviews transparency information on super websites

    ASIC has recently surveyed superannuation websites to check industry compliance with the new executive officer remuneration and systemic transparency disclosure requirements introduced as part of the Stronger Super reforms. 15-245MR. 7 September

  • ASIC updates guidance on MySuper product dashboards

    ASIC has revised the guidance set out in Information Sheet 170 MySuper product dashboard requirements for superannuation trustees (INFO 170).

  • ASIC varies Class Order [CO 14/509] Keeping RSEs’ superannuation websites up to date

    ASIC has varied its class order [CO 14/509] to make minor drafting changes, to allow the redaction of personal information form certain documents and to defer the s29QB requirements by one year in relation to some sub-plans (and provide time for further consultation on the appropriateness of the disclosure regime where there are commercial sensitivity concerns in the disclosure of the information).

  • ASIC updates Stronger Super FAQs

    We have updated our Stronger Super FAQs. The new FAQs focus on executive officer remuneration and systemic transparency disclosure requirements, including an extension of our facilitative compliance message for s29QB.

  • ASIC Insights on Super

    Read a summary of material presented at, and view slides from, our seminars on superannuation in June 2014.

  • ASIC releases information sheet on super fees and costs disclosure and defers s29QC

    We have released an information sheet on fee and cost disclosure requirements for superannuation trustees. 14-132MR. 17 June 2014

  • ASIC guidance for disclosure on superannuation websites

    We have modified the law by ASIC Class Order [CO 14/509] Keeping RSEs’ superannuation websites up to date to provide a safe harbour by defining what 'up to date, at all times' means and released guidance to help superannuation companies disclose information about superannuation funds and their trustees on their websites. 14-129MR. 16 June 2014

More What's new

What's new

Member communications associated with the Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018

11 April 2019

ASIC has issued a letter to superannuation industry associations to highlight expectations relating to member communications associated with the Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018, particularly in relation to initial insurance cancellation notices to be issued by 1 May 2019.

Read the letter

ASIC and APRA publish joint letter on superannuation fees

10 April 2019

ASIC and APRA have published a joint letter to all registrable superannuation entity licensees to reinforce the importance of ensuring fees charged to members are in line with the members’ best interests.

Read the release and joint letter

Roundtable meetings on fees and cost disclosure

5 March 2019

ASIC held roundtable meetings on the RG 97 fees and costs disclosure regime:

- in Sydney on Monday 4 March 2019 at ASIC’s office at 100 Market Street, and

- in Melbourne on Tuesday 5 March 2019 at ASIC’s office at 120 Collins Street.

Find out more

RG 97 Consultation Paper

8 January 2019

ASIC had released a consultation paper seeking industry feedback on proposals to make changes to the fees and costs disclosure regime.

Read the media release

Read the consultation paper

Find out more about the consultation

Compliance time period extended for ASIC Class Order [CO 14/1252]

11 December 2018

ASIC has extended the time periods for compliance with certain aspects of the fee and cost disclosure requirements in ASIC Class Order [CO 14/1252] for one further year to their equivalent dates in 2020.

Find out more about the extension

RG 97 review

24 July 2018

The external review by Darren McShane into Regulatory Guide 97: Disclosing fees and costs in PDSs and periodic statements (RG 97) is now complete and ASIC has published Mr McShane’s report.

Read the report

ASIC appoints expert to review fees and costs disclosure settings

ASIC has appointed Darren McShane, who has extensive experience in the superannuation and managed investments industry, to conduct a review of the fees and costs disclosure requirements under RG 97. The review is expected to be completed in the first half of 2018.

Read the media release | Find out more


 

Last updated: 21/03/2014 12:00