MOving Ahead October 2018

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By Luke Hooper, Special Counsel

Welcome to the October edition of MOving Ahead! This publication is filled with legal and regulatory developments designed to help super fund trustees meet the challenge of minimising the impact and maximising strategic opportunities arising from regulatory change.

In this edition…

  • APRA updates its outsourcing and cloud computing guidance;
  • ASIC announces a review of compliance with the FOFA Fee Disclosure Statement and Renewal Notice requirements;
  • Treasury releases draft APRA Regulations, as well as draft legislation designed to enable those aged 65 to 74 with a total superannuation balance below $300,000 to make voluntary contributions, despite the work test;
  • the Government releases draft legislation proposing to modernise business registers and introduce Director Identification Numbers;
  • amendments to the ATO’s ruling on capped defined benefit income streams have been made;
  • the South Australian Supreme Court holds that it has jurisdiction to make an order that the HESTA amends the HESTA Superannuation Fund trust deed;
  • the Interim Report of the Financial Services Royal Commission covering policy issues relating to financial advice and other non-superannuation matters is released; and
  • the Productivity Commission releases a supplementary paper, advancing its assessment of the fiscal impacts of insurance in superannuation.

To read the full publication, click here.

For further information, please do not hesitate to contact us.

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