A “superannuation trustee service” has now been added to the list of financial services under Chapter 7 of the Corporations Act. A person provides a superannuation trustee service if the person “operates a registrable superannuation entity as trustee of the entity”.
While most other financial services are defined in terms of the attributes of the service that is being provided, a superannuation trustee service is defined purely in terms of the role of the provider.
Under the
Superannuation Industry Supervision (SIS) Act, a person that operates a registrable superannuation entity as trustee of the entity is required to hold a Registrable Superannuation Entity (RSE) licence from the Australian Prudential Regulation Authority (APRA). In effect, if you hold an RSE licence then you are providing a superannuation trustee service and also require an Australian financial services licence (AFSL) from the Australian Securities and Investments Commission (ASIC).
What Sydney s latest lockdown restrictions mean for first-time buyers about to purchase their home
dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.
Big super flexes its nation-building muscles
afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.