Page 16 - Danielle Press News Today

Clarity and certainty has been given around when records of advice can be used instead of a statement of advice.

The guidance offers advice on how employers can communicate with employees of fund choice, as well as guidance for trustees about the prohibition on using inducements to influence employers.

ASIC has remained tight-lipped on the process for the forthcoming transition of FASEA but promises that plans to announce it are “imminent”.

The country’s $3.3 trillion superannuation industry has been rocked by revelations that some could have been switching their investment funds for personal gain.

The corporate regulator is waiting to finalise its contract with the financial adviser exam facilitator before publishing information about exams to be held next year.

ASIC has revealed surveillance of personal investment switching by directors and senior executives of superannuation trustees has identified conflicts of interests by trustees’ management. On Wedn

The corporate regulator has found failure in superannuation fund identifying conflicts of interests with superannuation trustee directors and senior executives regarding personal investment switching based on their knowledge of timing of the revaluation of unlisted assets.

ASIC has released the results of surveillance into investment switching by super fund executives during market volatility at the start of the pandemic, finding possible conflicts of interest.

ASIC has revealed surveillance of personal investment switching by directors and senior executives of superannuation trustees has identified conflicts of interests by trustees’ management. On Wedn

ASIC is investigating whether executives from 23 super funds moved their money out of unlisted asset options before they were revalued lower by the fund.