Welcome to the latest issue of the KHQ Super Alert. The High Court has handed down its decision in ASIC’s financial advice phone campaign case, which now provides important case law in relation to the distinction between general and personal advice. In other developments, the ATO and APRA have released materials in relation to their … Read more
Welcome to an extended issue of the KHQ Super Alert and happy new year! This issue captures the relevant news since the holiday break including APRA’s release of a revised draft of SPS 250 (Insurance in Superannuation) and an announcement from the ATO that the transfer balance cap will be indexed on 1 July 2021. … Read more
Welcome to the latest issue of the KHQ Super Alert. The regulators have been busy this week with both ASIC and APRA releasing several reports and information for the industry including in relation to the APRA heatmap, member outcomes, design and distribution obligations, insurance in superannuation and the implementation of BEAR. This is likely to … Read more
Welcome to the latest issue of the KHQ Super Alert. Parliament has had a busy week passing two superannuation Bills and introducing a further Bill to implement outstanding Royal Commission recommendations (which includes the ban on advice fees from MySuper products). ASIC has also deferred the start date for the portfolio holdings disclosure requirements. ASIC … Read more
Welcome to the latest issue of the KHQ Super Alert. The regulators have provided a variety of news updates this week, including an ASIC consultation paper on consumer remediation, the publication of a new issue of APRA Insight and an information sheet which explains the proposed AFSL requirements for entities providing insurance claims handling services. … Read more
Welcome to the latest issue of the KHQ Super Alert. This week the Treasury released draft legislation to implement the ‘Your Future, Your Super’ budget reforms, and APRA announced a new CPS 234 expectation for all boards to engage external firms to conduct a thorough cyber security review. The ATO has given a reminder about … Read more
Welcome to the latest issue of the KHQ Super Alert. The long-awaited final report of the Retirement Income Review was published this week by Treasury. ASIC also released a consultation paper seeking industry feedback on affordable advice options for consumers, and a report in relation to insurance in superannuation. Retirement Income Review – Final report … Read more
Welcome to the latest issue of the KHQ Super Alert. It has been a busy week with the introduction of another Royal Commission Bill before Parliament which deals with a number of outstanding recommendations such as the anti-hawking and ‘no other role for superannuation trustees’ rules. APRA has also had a busy week, releasing FAQs … Read more
Welcome to the latest issue of the KHQ Super Alert. The Senate has released the transcripts from its Budget estimates hearings which provide useful insights into upcoming legislative changes in the industry. The Government is also seeking feedback in relation to its review of the Privacy Act. Attorney General’s Department – review of Privacy Act … Read more
