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Fix regulators, not the law: AIST


Fix regulators, not the law: AIST
08 April 2021
The proposed update to the best interests duty has sparked debate for stakeholders across superannuation, but a peak industry body has declared the law doesn’t need to change, regulators have held back on fully using their current powers.  
One of the government’s proposals under the Your Future, Your Super reforms is an amendment to
Superannuation Industry Supervision Act (
SIS Act), which would change the best interests duty to specifically requiring trustees act in members’ “best financial interests”. 
The draft bill has also proposed to reverse the evidential burden of proof, so it is up to trustees and directors to show they performed their duties in line with the best financial interests of beneficiaries, rather than requiring regulators to prove their guilt. ....

Helen Rowell , Sarah Simpkins , Andrew Bragg , Scott Donald , Nadia Bromley , Luke Barrett , David Haynes , Martin Fahy , Centre For Law , Association Of Superannuation Funds Australia , Law Council , Australian Institute Of Superannuation Trustees , Law Council Of Australia , Superannuation Industry Supervision Act , Australian Institute , Superannuation Trustees , Senator Andrew Bragg , Superannuation Funds , Momentum Media , ஹெலன் ரோவெல் , சாரா சிம்ப்கின்ஸ் , ஆண்ட்ரூ தற்பெருமை , ஸ்காட் டொனால்ட் , லூக் பாரெட் , டேவிட் ஹேன்ஸ் , மார்டின் பஹி ,

SMSF investment strategies: Dealing with increased scrutiny

More Hayne reforms legislated

The latest piece of Hayne reform legislation was passed in the Senate yesterday, introducing changes to ongoing fee arrangements, an obligation to disclose a lack of independence and restrictions on deducting fees from superannuation accounts. ....

Superannuation Industry Supervision Act , சுப்பெறன்ணுஅதிோன் தொழில் மேற்பார்வை நாடகம் ,