End-to-end accountability: Remarks to ASFA Conference 2024
20 November 2024
Remarks by ASIC Commissioner Simone Constant at Association of Superannuation Funds of Australia Conference 2024 in Sydney on 20 November 2024.
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ASIC writes to superannuation trustees to drive improvement to death benefit claims handling
19 November 2024
ASIC has written to the CEOs of superannuation trustees, urging them to assess their death benefit claims handling practices and address any identified deficiencies.
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ASIC sues Cbus alleging systemic claims handling failures
12 November 2024
More than 10,000 members and claimants of the Construction and Building Unions Superannuation Fund (Cbus) were impacted by death benefits and total and permanent disability (TPD) insurance claims taking more than 90 days to be processed, according to allegations contained in documents lodged by ASIC in the Federal Court.
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ASIC updates guidance for auditors following extension to financial reporting and audit obligations
24 October 2024
ASIC has released updated regulatory guidance for the resignation, removal and replacement of auditors. The updates to Regulatory Guide 26 Resignation, removal and replacement of auditors (RG 26) reflect expanded obligations applying in relation to registrable superannuation entities (RSEs) and retail corporate collective investment vehicles (retail CCIVs).
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ASIC’s urges businesses to prepare for mandatory climate reporting
18 September 2024
From 1 January 2025, many large Australian businesses will need to prepare annual sustainability reports containing mandatory climate-related financial disclosures, following passage of a major Bill through Parliament.
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ASIC’s proceedings against Rest alleging misleading member representations are dismissed
18 September 2024
The Federal Court has dismissed ASIC’s case against superannuation trustee, Rest, for allegedly making misleading representations about limitations on members’ rights to transfer superannuation funds out of the Retail Employees Superannuation Trust between March 2015 and May 2018.
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ASIC updates superannuation forecasts relief instrument
13 September 2024
ASIC has updated the default rate of nominal wage inflation in ASIC (Superannuation Calculators and Retirement Estimates) Instrument 2022/603 from 4% p.a. to 3.7% p.a. following a period of industry consultation.
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