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Super anonymity or favouritism?
Rollover noted with a quiet smile how angry some financial planners became about the Australian Securities and Investments Commission (ASIC) not naming the superannuation funds who fell short of expectations on member experience.
And given that seven funds opted to head for the exit as a result of ASIC’s scrutiny, perhaps the planners had a point.
Finding himself with a disgraceful amount of time on his hands, Rollover conducted a quite audit of ASIC’s media announcements and reports and concluded that miscreant companies or financial planners were named in every instance.
Never mind, Rollover has it on good authority that a couple of Coalition back-benchers are going to be asking ASIC’s executives a few pertinent questions when next they appear before a particular Parliamentary Committee.
Forewarned is forearmed.
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
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