Ticked List – ASIC and the Focus on Superannuation
This ASIC article from late last year is still relevant and focuses on superannuation and possible implications that the past year have had on it.
Responding to the pandemic: “At the start of the pandemic, ASIC identified a number of potential areas of consumer harm. These included inaccessibility of financial advice, financial stress, scams and some changes to insurance offerings.”
Looking ahead: “…a wide range of regulatory work will progress in parallel to our pandemic responses, including our work to implement the recommendations of the Financial Services Royal Commission (FSRC).”
Conclusion: “While the changes announced in the Government Budget 2020-21 may mean significant changes for how the superannuation industry operates, it is important for trustees to continue to focus on existing and upcoming obligations designed to support good outcomes for consumers and members. “
Read the full article here: https://asic.gov.au/about-asic/news-centre/articles/2020-21-asic-s-focus-in-superannuation/
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