Spotlight on Super – April 2016

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Welcome to Mills Oakley’s April edition of Spotlight on Super! This publication is filled with legal and regulatory developments designed to help super trustees meet the challenge of minimising the impact and maximising strategic opportunities arising from regulatory change.

In this edition…

  • Bills governing choice investment option product dashboards, portfolio holdings disclosure and choice of fund has been introduced and lapsed.
  • ASIC releases Legislative Instruments including to aid electronic disclosure and clarify that the transfer of accrued default amounts to MySuper products are subject to relief from the cooling-off regime.
  • ASIC tweaks the calculator relief.
  • FOFA provisions amended to clarify that intra-fund advice paid for by a superannuation fund member is not conflicted remuneration.
  • Discussion and Issues Paper to assess the purpose of the superannuation system.
  • ASIC releases a report on conflicts of interest in vertically integrated funds management businesses and a consultation paper on digital advice.
  • APRA identifies governance issues it will focus on in 2016.

To read the full publication, please click here.

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

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    The ‘Protecting Your Superannuation Package’ fee and costs caps for low balance members