According to this senior adviser, APRA’s ‘politicisation of regulation’ has led to issues with the YFYS test.
If safe harbour provisions are removed, the existing ‘best interests duty’ could ensure super fund members are not taken advantage of, according to the Australian Institute of Superannuation Trustees.
Minister for Financial Services, Stephen Jones, has confirmed he expects the Your Future, Your Super performance test to be extended by 800 funds from August.
ASIC had banned Gold Coast-based director Darren Thomas Edden-Brown for eight years for promoting and helping consumers access their superannuation early to buy a home or pay personal debts.
Australia’s foremost provider of financial services news, analysis and market intelligence, Momentum Media has unveiled the team behind Australia's leading force in financial services industry media.
Super funds managed to generate positive returns in the first quarter of 2023 with diversification helping to capture upside benefits and manage market volatility.
ASIC has acted against 11 SMSF auditors for breaches of their obligations, including seven disqualifications.
The SMSF Association has raised concerns about a proposed legislative change that would exclude certain distributions funded by capital raisings being eligible for franking credits.
QSuper, part of Australian Retirement Trust, will be closing its Self Invest option to new investors from July.
There could be major changes ahead to superannuation taxation and access if budget recommendations by the Grattan Institute are enacted.