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What's News in Superannuation, Funds Management & Financial Services - 24 September 2018

24 September 2018

#Superannuation, Funds Management & Financial Services

What's News in Superannuation, Funds Management & Financial Services - 24 September 2018

In the media

ASIC extends relief for foreign financial services providers
ASIC has extended to 30 September 2019 licensing relief for foreign financial services providers (FFSPs) to allow them to provide financial services to Australian wholesale clients without needing to hold an Australian financial services licence (21 September 2018).   More... 

Financial firms must join AFCA now
ASIC warns all Australian financial services licensees, Australian credit licensees, authorised credit representatives and superannuation trustees that they must join the Australian Financial Complaints Authority (AFCA) now if they have not already done so (20 September 2018).  More... 

Improving superannuation settings will lead to better retirement outcomes for women
The Association of Superannuation Funds of Australia (ASFA) welcomes the Federal Opposition’s announcement of a package of proposed reforms to improve retirement outcomes for women (19 September 2018).  More...

Governance Institute: Regaining trust in a post royal commission world
The victims at the heart of the cases raised at the Hayne royal commission might consider it an understatement to conclude there is a need for greater levels of professionalism in the financial services sector. Indeed, as the results of our recent Ethics Index show, there is much work to do if the financial services sector is to regain the trust of its customers (19 September 2018).  More...

ASIC approves Australian Financial Complaints Authority rules
The Australian Securities and Investments Commission (ASIC) has approved the Australian Financial Complaints Authority (AFCA) Complaint Resolution Scheme Rules and the Terms of Reference of the AFCA Independent Assessor (IA) (12 September 2018).  More...

In practice and courts 

APRA: Review of the superannuation prudential framework
The aim of the review is to ensure the prudential and reporting standards, and related guidance, have achieved their objectives and continue to remain fit for purpose. To commence this review, APRA released the first of a series of consultation papers on aspects of the prudential framework. APRA invites written submissions on all consultation papers by 26 September 2018. Copies of the consultation papers released are available on APRA’s website. More...


Chris Lovell, Chairman
T: +61 3 9321 9832

Paul Faure, Partner
T: 61 3 9321 9904

Bill Glover, Partner 
T: 61 3 9321 9844

Kylie Wilson, Partner
T: 61 7 3135 0514

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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