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Expertise

Luke specialises in superannuation and financial services law and has particular expertise in acting for large industry-based, government and corporate superannuation fund trustees and financial service providers in all legal and commercial matters affecting these entities.

Luke brings a wealth of experience from acting on a number of matters affecting superannuation funds including major superannuation investments, custody, administration, successor fund transfers and general commercial contracting. Luke also advises trustees on superannuation and financial services law compliance, and drafts and reviews internal trustee documents including governing rules and policies and all forms of disclosure documentation.

Luke also has expertise in acting for employers, including advising on superannuation guarantee obligations and defence of claims, as well as advising on the closure and conversion of corporate defined benefit plans and corporate plan successor fund transfers.

Luke regularly presents at ASFA’s Victorian Legislation Discussion Group.

Luke's expertise includes:

  • superannuation investments
  • superannuation outsourcing, including custody, administration and investment management
  • technical superannuation and financial services
  • group insurance policies
  • superannuation successor fund transfers
  • APRA, ASIC and AUSTRAC compliance and/or breaches
  • employer superannuation guarantee obligations and defence of claims
  • closure and conversion of corporate defined benefit plans
  • superannuation and financial services disclosure.

Experience

Luke’s experience includes:

  • advising multiple trustees in respect of the Protecting Your Superannuation Package requirements
  • acting for Hostplus in respect of its Successor Fund Transfer with Club Super
  • acting for WA Super in respect of its Successor Fund Transfer with Concept One
  • acting for CSR Limited in respect of the Harwood Superannuation Fund Successor Fund Transfer
  • acting for Hostplus, Statewide, GESB and CoINVEST in respect of their custody arrangements.

Publications

19 December 2023 - Knowledge

Trustee risk reserves – the ATO’s view on the deductibility of payments

#Taxation, #Superannuation, Funds Management & Financial Services

The Australian Taxation Office has issued TD 2023/D3, a draft taxation determination for payments made to trustee risk reserves required by super laws. We share our thoughts on the guidance.

09 November 2023 - Knowledge

Latest changes to trustee breach reporting

#Superannuation, Funds Management & Financial Services

The regulator has released a new instrument that modifies Australian financial services licensees’ current breach reporting obligations under the Corporations Act.

17 October 2023 - Knowledge

A tap on the shoulder: Prudential Standard CPS 900 – Resolution Planning

#Superannuation, Funds Management & Financial Services

APRA released APRA Prudential Standard CPS 900 – Resolution Planning (CPS 900), empowering APRA to implement an action plan to manage a trustee’s failure to protect beneficiaries. We explore the key takeaway for trustees and the consequences for those who fail to comply.

08 August 2023 - Knowledge

Regulators crack down on super fund retirement strategies

#Superannuation, Funds Management & Financial Services

A recent review of the implementation of the Retirement Income Covenant finds a need for super funds to consider how they can best assist retirees in accessing and using the available benefits to improve their retirement outcomes.

05 July 2023 - Knowledge

Supreme Court clarifies applicability of NSW Crimes Act provision to successor fund transfers

#Superannuation, Funds Management & Financial Services

The NSW Supreme Court has ruled that section 249E(2) of the Crimes Act 1900 (NSW), which deals with corrupt benefits for trustees and others, does not apply to successor fund transfers (SFT). We examine the Court’s decision and explain why this is a welcome development for superannuation trustees.

08 March 2023 - Knowledge

Greenwashing unsustainable following ASIC and ACCC enforcement action: How your business can stay off the regulators’ radar

#Environmental, Social and Governance (ESG), #Competition & Consumer Law, #Superannuation, Funds Management & Financial Services

Australia’s corporate and consumer regulators are on red alert for greenwashing and have prioritised investigating and taking enforcement action in connection with misleading disclosures and marketing.

24 February 2023 - Knowledge

Square pegs, round holes: The 90-day MySuper transfer requirement

#Superannuation, Funds Management & Financial Services

This article explores APRA’s proposal to formalise the 90-day MySuper transfer requirement for trustees that lose their MySuper authorisation, and how this interacts with the retention or transfer of residual choice products and members.

06 December 2022 - Knowledge

Superannuation monthly update – November 2022

#Superannuation, Funds Management & Financial Services

A summary of key superannuation news, cases and legislative developments in the past month.

21 November 2022 - Knowledge

Section 249E strikes again raising questions as to successor fund transfers in NSW

#Superannuation, Funds Management & Financial Services

A concern for all superannuation trustees, the NSW Supreme Court in Application of MLC Investments Limited [2022] NSWSC 1541 provided its second decision on section 249E of the Crimes Act 1900 (NSW).

08 November 2022 - Knowledge

Superannuation monthly update – October 2022

#Superannuation, Funds Management & Financial Services

A summary of key superannuation news, cases and legislative developments in October.

05 August 2022 - Knowledge

Superannuation monthly update – July 2022

#Superannuation, Funds Management & Financial Services

A summary of key superannuation news, cases and legislative developments in the past month.

13 July 2022 - Knowledge

ESG investing – ASIC releases new ‘greenwashing’ guidance

#Environmental, Social and Governance (ESG), #Superannuation, Funds Management & Financial Services, #Dispute Resolution & Litigation, #Regulatory

ASIC has released guidance setting out the main risks relating to ‘greenwashing’ sustainability-related investments, products and services and what those who offer such products can do to avoid it.

13 July 2022 - Knowledge

Superannuation monthly update – June 2022

#Superannuation, Funds Management & Financial Services

A summary of key superannuation news, cases and legislative developments in the past month.

03 June 2022 - Knowledge

Fees and costs disclosure in PDSs – a quick guide

#Superannuation, Funds Management & Financial Services

We provide a quick guide to assist you with drafting or restructuring PDSs to disclose fee and costs data in compliance with the ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070.

10 May 2022 - Knowledge

Superannuation monthly update – April 2022

#Superannuation, Funds Management & Financial Services

A summary of key superannuation news, cases and legislative developments in the past month.

12 April 2022 - Knowledge

ASIC releases internal dispute resolution data reporting requirements

#Superannuation, Funds Management & Financial Services

The Australian Securities and Investment Commission has released a handbook to assist financial services licensees comply with the mandatory data reporting on their internal dispute resolution procedures.

05 April 2022 - Knowledge

Superannuation monthly update – March 2022

#Superannuation, Funds Management & Financial Services

A summary of key superannuation news, cases and legislative developments in the past month.