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Related parties identified as RC issue
It would not be surprising if the Royal Commission recommended additional control around superannuation trustee interactions with related parties, according to an analysis issued by Willis Towers Watson.
The analysis, released this week, reviewed the areas covered by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and suggested the commission’s final recommendations might include the additional controls.
Retail superannuation funds sitting within vertically-integrated structures would be most affected by such a move.
The Willis Towers Watson analysis also suggested that the final recommendations might also focus on commissions and other conflicted remuneration.
The analysis pointed to the summing up of counsel assisting the Royal Commission and the fact that they had suggested that findings could be made that some trustees had not prioritised the interests of their members over those of others such as related parties.
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