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A joint regulatory review finds that superannuation funds are shrugging off the urgency to offer robust retirement income strategies and are failing to integrate this mandate into their business plans.
ASIC has agreed to host a roundtable to discuss the ASX's CHESS replacement project, attended by industry participants of the bourse's choosing.
To re-engage the industry after change of direction.
In a scathing review of how funds were meeting their obligations to help members plan their retirements, two regulators found most were falling short.
ASIC has called on banks to assist customers to move into low-fee accounts after it found consumers, including First Nations people, are being charged up to $3,000 in overdraw fees.