Welcome to the latest issue of the KHQ Super Alert. This week APRA outlined its proposed actions in relation to combining the investment performance of multiple products for the upcoming performance tests. ASIC has also registered an instrument which provides a minor exemption to the revised breach reporting regime. APRA – Introduction to new APRA … Read more
Welcome to the latest issue of the KHQ Super Alert which provides an overview of new superannuation developments – and this is a bumper week of news! It includes the passage of temporary legislation to allow companies to electronically execute documents (again), ASIC’s feedback from a review of annual members’ meetings and new regulations in … Read more
Welcome to the latest issue of the KHQ Super Alert. In this busy week, the regulations which give effect to the Your Future, Your Super reforms were registered. The ATO issued a draft determination in relation to the stapled fund rules and APRA has outlined its expectations for implementation of the Your Future, Your Super … Read more
Welcome to the latest issue of the KHQ Super Alert. This week the ATO published a ruling in relation to the non-arm’s length income expenditure rules which were amended in 2019. ASIC also released its proposed cost recovery measures for the 2020/21 financial year, and the Government is requesting feedback from the industry on proposed … Read more
Welcome to the latest issue of the KHQ Super Alert. It was a week of new consultations announced, with five different consultation projects being commenced by ASIC and Treasury. This included the draft Financial Accountability regime legislation, a position paper on the retirement income covenant and guidance on financial product anti-hawking. ASIC – Draft … Read more
Welcome to the latest issue of the KHQ Super Alert. The ATO has released additional information in relation to the administration of the ‘More Flexible Superannuation’ changes. The Government has also announced that insurance sold within superannuation will be exempt from the deferred sales model for add-on insurance. Parliament – Regulations to exempt insurance in … Read more
Welcome to the latest issue of the KHQ Super Alert. This week AFCA released a summary of the complaints which it received in the 2020/21 financial year. ASIC has provided a summary of the industry’s response to its consultation on access to financial advice. AFCA – Summary of complaints in FY 2020/21 On 5 July … Read more
Welcome to the latest issue of the KHQ Super Alert. The ATO’s ‘Your Super’ tool is now available to compare MySuper products. This week APRA and ASIC issued guidance to trustees in relation to the charging of advice fees as well as notes from a CEO roundtable held earlier this year. Treasury has also released … Read more
Welcome to the latest issue of the KHQ Super Alert. This week Parliament passed Bills to make changes to ASIC’s product intervention powers and to establish the Financial Regulator Assessment Authority. The Bill to establish a single disciplinary body for financial advisers was also introduced. The ATO has also issued a reminder to trustees in … Read more
