Welcome to this week’s issue of the KHQ Super Alert. APRA has given an update of its regulatory activities and the Federal Government announced that relief to facilitate electronic execution of documents will remain until next year. APRA – Ongoing activities On 5 August 2020, Wayne Byres, Chair of APRA, appeared before the House of … Read more
Welcome to this week’s issue of the KHQ Super Alert. The main news items relate to updates from ASIC, including the new regulatory guide RG 271 which sets out changed internal dispute resolution standards for trustees. ASIC – Internal dispute resolution regulatory guide On 30 July 2020, ASIC issued RG 271: Internal Dispute Resolution (RG … Read more
Welcome to this week’s issue of the KHQ Super Alert. This week the Treasurer announced a number of superannuation measures in the Economic and Fiscal Update, ASIC registered the legislative instrument which gives effect to the deferral of the new fees and costs disclosure obligations and APRA reminded trustees of their SPS 515 responsibilities. Federal … Read more
Welcome to this week’s issue of the KHQ Super Alert.The main item this week is the Federal Court’s judgement about the application of the fairness and honesty requirements in the Corporations Act for financial services. ASIC and the ATO have also provided additional COVID-19 updates. ASIC – COVID-19 FAQ update On 10 July 2020, … Read more
Welcome to this week’s issue of the KHQ Super Alert. There are only a few developments this week and, among them, it is interesting to see the AFCA statistics. AFCA – FY19/20 snapshot On 2 July 2020, AFCA issued a media release and its 12-month snapshot for the 2019/2020 financial year. Superannuation-related complaints counted for … Read more
Welcome to the third issue of the KHQ Super Alert covering a range of releases from the regulators. Importantly, it includes the updated MySuper Product Heatmap from APRA. ASIC – ASIC Corporations, Superannuation and Credit (Amendment) Instrument 2020/99 On 25 June 2020, an ASIC instrument was registered to extend the transitional application of RG 165 regarding … Read more
Welcome to the second issue of the KHQ Super Alert. This issue mainly covers numerous releases from the regulators. The ATO guidance on SFT reporting may be of particular interest for those underway with SFTs. ATO – COVID-19 early release integrity and compliance warning On 18 June 2020, the ATO released a warning directed at … Read more
Welcome to the first issue of the KHQ Super Alert! This issue covers a range of developments, mainly from ASIC this week. Importantly, the new RG 272 on ASIC’s product intervention powers has now been released in final form. ASIC – revised timetable of ongoing work On 11 June 2020, ASIC published a revised timetable … Read more
