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ASIC believes there is a “chicken and egg” situation when it comes to product development under the Retirement Income Covenant as super funds and firms are unsure if products will see sufficient uptake.
<p><span>I am pleased to appear before the Committee once more and welcome Senator O’Neill as the new Committee Chair. I am joined today by Deputy Chairs Sarah Court and Karen Chester, Commissioner Sean Hughes, Chief Operating Officer Warren Day, Executive Director of Strategy Greg Kirk, Executive Director of Markets Greg Yanco and our General Counsel Chris Savundra. Commissioner Danielle Press is unable to join us today, so I have asked Senior Executive Leaders Leah Sciacca and Jane Eccleston from our Financial Advisers and Superannuation areas to join us. Jane will join...
Australia’s banking and company regulators will be working together to review the retirement income strategies of superannuation funds to support the implementation of the retirement income covenant that came into effect on July 1.
The government’s crusade against industry super funds had an odd focus on a single, 206-word email sent to ASIC in early 2020.
The man in charge of Treasurer Josh Frydenberg’s office was running corporate affairs at Westpac’s BT when the superannuation giant was aggres