ASIC keeps super in focus
The Australian Securities and Investments Commission (ASIC) has pointed to superannuation as being one of its continuing focal points.
The regulator has outlined its intentions in an enforcement outcomes report issued this week covering activity between July and December, 2015.
However looking to its future focus and structural change, the ASIC report stated "because we expect that structural change in our financial system, driven by growth in superannuation, will continue in the future, we will address this challenge long term".
It said it would be focusing on working closely with other [regulators] supporting proactive and reactive surveillance in the funds management sector and responding to poor financial advice affecting retirement savings.
The ASIC report said that, where appropriate, it would be taking enforcement or other regulatory action.
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