It said in a statement that ASIC’s case is that these members were denied their lawful rights to superannuation portability and choice of superannuation fund, causing members to suffer financial loss. ASIC further alleges that this conduct resulted in REST retaining a higher level of funds under management than would have otherwise occurred. Specifically, ASIC alleges REST made representations to members who made, or were considering making, full balance transfers to another fund that: If they remained employed by an employer who made contributions to the Fund (REST employer) and that employer continued to make contributions to REST, they were required to keep a minimum balance of $5,000 in their account with the fund;