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Inside track: Superannuation, Funds Management & Financial Services

01 July 2020

#Superannuation, Funds Management & Financial Services

Inside track: Superannuation, Funds Management & Financial Services

In the media

ASFA: Super funds claw back COVID losses to finish flat, outperform international peers
Superannuation funds have delivered substantial benefit to members in the 2019-20 financial year, despite the most challenging investment and employment conditions in recent memory, according to ASFA. Analysis indicates that Australians have also benefitted from superannuation in other ways over the financial year (26 June 2020).  More...

ASIC refuses just 3% of AFSL relief applications
The corporate regulator refused just 3% of Australian financial services licence relief applications in the six month period that saw COVID-19 intensify (24 June 2020). More...

Super funds face fresh data requirements
The prudential regulator will request additional data from the country's super funds, in a bid to understand the full impact of the COVID-19 pandemic on the industry (24 June 2020).  More...

FASEA extension bill passes parliament
The Morrison Government has passed legislation through the Parliament to provide additional time for existing financial advisers to meet the qualification and examination requirements set by the Financial Adviser Standards and Ethics Authority (FASEA).  More...

ASIC defines product intervention reach
ASIC has set out the rules for its product intervention power, with its new guidance stating where and how it may use the capability. However it is not supposed to be used for pre-approval of products or to prevent all monetary losses or eliminate all market risk (17 June 2020). More...

In practice and courts

APRA weekly data on the superannuation early release scheme
APRA has published the latest industry-level and fund-level data on the temporary early release of superannuation scheme (22 June 2020).  More...

AFCA: LCCC publishes annual industry data and compliance report
On 26 June 2020, the Life Code Compliance Committee published its annual industry data and compliance report 2018-19 (26 June 2020).  More...

Disclaimer
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.

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