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Appearing before the House of Representatives' Economics Committee, APRA's Margaret Cole said the regulator is concerned about some of the super funds that passed the performance test yet fail the regulator's own sustainability testing.
The ACCC, APRA and ASIC will front the House of Representatives Standing Committee on Economics tomorrow to discuss super fund underperformance, greenwashing and the rise of finfluencers.
Australian shares are expected to rise as markets look to bounce back from a volatile week in which Wall Street sold off.
Shares rise. Telstra confirms guidance. Lloyd-Hurwitz to leave Mirvac. Macquarie underperform on Zip. Nasdaq at 2-year low. Oil, gold fall. Follow latest here.
The blind rush to consolidate that gripped the $3.4 trillion superannuation sector in recent times may be finally over, according to First Super chief executive Bill Watson.