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22 February 2021 - Knowledge
In what represents a hook in the Government’s Your Future Your Super legislation, it has moved to impose portfolio holdings requirements on superannuation funds.
10 February 2021 - Knowledge
The High Court has clarified what constitutes personal financial product advice in an important decision for the financial services industry and retail consumers.
09 February 2021 - Knowledge
In this edition, we provide a summary of key superannuation news and developments in Australia from December 2020 to January 2021.
08 February 2021 - Knowledge
A Parliamentary Committee has questioned why financial advisers should face the risk of five years’ jail for record-keeping failures under legislation flowing from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services due to be debated by the Parliament.
25 January 2021 - Knowledge
Industry superannuation funds have backed the deduction of one-off advice fees from superannuation balances at the same time as arguing for an extension of the ability to provide advice around household retirement adequacy and pension eligibility.
01 December 2020 - Knowledge
In this edition, we look at the draft legislation recently announced under the ‘Your Future, Your Super’ package and discuss some of the issues concerning the best financial interests legislation.
01 December 2020 - Knowledge
The Australian Securities and Investments Commission (ASIC) has taken the unusual step of pursuing civil proceedings in the Federal Court to enforce the terms of an enforceable undertaking on a Gold Coast-based self-managed superannuation fund (SMSF) accountant.
17 November 2020 - Knowledge
Consumers and small businesses will be further protected under a package of legislation introduced into the Parliament by the Morrison Government.
04 November 2020 - Knowledge
In this edition, we wrap-up key news, legislation, cases and other developments in superannuation in October.
03 November 2020 - Knowledge
The Government’s superannuation performance test proposal needs to define ‘underperformance’ or it could have unintended consequences and undermine the super system, the Association of Superannuation Funds of Australia believes.
20 October 2020 - Knowledge
A Full Federal Court decision has confirmed that employers may be required to make superannuation contributions, even if an independent contractor is not an employee under common law.
19 October 2020 - Knowledge
ASIC has obtained interim orders and injunctions from the Federal Court of Australia against Mr David Murphy, Mr Anastasios Mavroulis, Mrs Kewa Ruwhiu and Mr Mathew Ruwhiu (the defendants) and Debts Knockout Pty Ltd (Debts Knockout) in relation to unlicensed financial services.