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Hundreds of AFSLs with retail authorisation must now report internal dispute resolution to ASIC by 29 February as the final tranche of the regime’s implementation kicks in, even if they have faced no action.
The revamped advertising campaign will test the former Morrison government’s rule for funds to justify every dollar of member money they spend.
Critics have queried Hostplus being crowned Australia’s best balanced superannuation fund over one- and ten-years, saying the rankings rely on unpublished valuations of unlisted assets.
The financial services minister has said that recently introduced reforms to ongoing fee arrangements (OFAs), which will cost the industry $28 million, were necessary to stop clients from being “charged invisibly”.
The financial services minister has said that recently introduced reforms to ongoing fee arrangements (OFAs), which will cost the industry $28 million, were necessary to stop clients from being “charged invisibly”.