2016 looks to be another year of regulatory uncertainty for super funds. Click here for our new Spotlight on Super, a monthly publication of 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…
There has been significant activity on the design of Product Dashboard and Portfolio Holdings, with much more to come. Proposed choice of fund reforms will test the Government’s capacity to implement FSI and TURC recommendations and, if enacted, will draw new battlelines for default fund contributions. This spectre has pushed employer inducements and advice onto ASIC’s radar.
APRA proposes to shore up its governance standard. ASIC is looking to tighten calculator relief but will push issues such as AFSL dealing authorisations and 29QC (consistent disclosure) further into the future.
Finally, we address a case about breach of duties by directors of a responsible entity on investment governance. This has application to superannuation directors in relation to duty of care, skill and diligence and issues of delegation and reasonable reliance.
To read the full publication, please click here.