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09 September 2021
Legislation update - 9 September 2021
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AIST calls on government to address concerns on new disclosure requirements; ASIC publishes guidance on breach reporting; APRA Connect goes live; ATO issues warning on newly-opened accounts; Colonia First State liable for misleading super members; APRA’s Climate Vulnerability Assessments could be extended to super and insurance; APRA stakeholders raise concerns about the cost burden of regulation
02 September 2021
Legislation update - 2 September 2021
Review of occupational exclusions in default insurance in MySuper products; APRA open to tweaking benchmarks used in performance test; New law will make it easier for victim-survivors of family violence to get their fair share of super entitlements; More work needed on internal dispute resolution: ASIC; Government releases Financial Accountability Regime Bill for consultation;
26 August 2021
APRA performance test update; Design and distribution obligations notification requirements; ATO alert on suspicious activity with SuperMatch; Westpac subsidiaries to pay $10.5 million penalty for breaches of best interests duty; Insurance, intra-fund advice, misconduct and communications to be key ASIC priorities in super;
Legislation update - 26 August 2021
19 August 2021
Govt wants funds to report financials twice a year to ASIC, APRA Connect update, New FAQs on data transformation, International pension body warns of dangers in releasing pension savings in response to the pandemic, More clarity on ministerial powers in relation to FAR: AIST submission, Inquiry into affordable housing
Legislation update - 19 August 2021
12 August 2021
Legislation update - 12 August 2021
Flexibility and advice key to retirement income strategies: AIST submission; Super clearing houses excluded from DDO; DDO - ASIC highlights that trustees should share their TMDs with distributors ahead of start date; New APRA FAQs on data transformation; Explanatory statement for anti-hawking regulations; AFCA Panel Member Expressions of Interest; AIST’s weekly update on the status of legislation