POWERED BY MOMENTUM MEDIA
ASIC defers portfolio holdings disclosure date
The Australian Securities and Investments Commission (ASIC) has confirmed that the start date for portfolio holdings disclosure reporting and choice product dashboard requirements have been deferred until 30 June, next year.
The regulator made the announcement as part of an update on aspects of the Stronger Super regime which it said was aimed at providing the superannuation industry with certainty around the start dates for key superannuation reforms.
It said the deferral of the start date would allow time for the Superannuation Legislation Amendment (Transparency Measures) Bill 2016 to pass and the Federal Government further time to consult on the detail of the requirements.
The ASIC announcement noted that the requirements were originally due to start on 1 July 2016.
ASIC said that, additionally, it had extended previous relief that allowed registrable superannuation entities (RSE) licensees to provide a product dashboard with a periodic statement by including a website address for the latest product dashboard, rather than requiring a hard copy of the dashboard to be included with the periodic statement.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
