Australia: Superannuation & Funds Management - What's News - 22 August 2013

Last Updated: 27 August 2013
Most Read Contributor in Australia, September 2016

In the media

Institutional managers and super funds start year on a high
MEDIA - 16 August 2013 - The first month of the new financial year was a positive one for institutional fund managers and superannuation funds, with growth focused managers and strategies performing strongly. More...

Consolidation holds back Johnson Report objective
MEDIA - 16 August 2013 -The federal government's stated policy goal to position Australia as a global financial services hub, as recommended by the Johnson Report, may be hindered by a lack of competition and increasing consolidation of the sector. More...

Extra breathing space on risk management
MEDIA - 15 August 2013 - Insurance companies and other institutions will receive a 12-month transition period on implementing the Australian Prudential Regulation Authority's (ARPA's) risk management requirements, the regulator has announced. More...

APRA urged to ensure super data quality
MEDIA - 13 August 2013 - APRA has been urged to push out the time frames around its collection of superannuation data in the interests of improving its underlying quality. APRA's new data reporting standards will come into play for the first quarter of this financial year, with data due by 28 October. More...

Release of the Pre-Election Economic and Fiscal Outlook (PEFO)
TREASURY - 13 August 2013 - Consistent with the requirements of the Charter of Budget Honesty Act 1998, the Pre-Election Economic and Fiscal Outlook (PEFO) was released on August 2013. The document is available on the Treasury website at and on the Department of Finance and Deregulation website at (13 August 2013). More...

APRA seeks disqualification of former Trio director David Millhouse
APRA – 13 August 2013 - APRA is seeking orders under section 126H of the Superannuation Industry (Supervision) Act 1993 (SIS Act) that Mr Millhouse be disqualified from acting as a trustee of any superannuation entity or a responsible officer of any body corporate that is a trustee, investment manager or custodian of a superannuation entity (13 August 2013). More...

Stronger Super transparency rules too stringent: FSC
MEDIA – 09 August 2013 - The Financial Services Council (FSC) has called on Treasury to loosen transparency requirements associated with the Stronger Super reforms, including the product dashboard, portfolio holdings disclosure requirements, and Product Disclosure Statement (PDS) requirements. More...

Investors demand more clarity on carbon exposures
MEDIA – 08 August 2013 - Fund managers must do more to disclose portfolio holdings so investors can assess their position in relation to environmental issues, according to the Asset Owners Disclosure Project (AODP). More...

FSC opposes threshold lift on inactive accounts
MEDIA – 05 August 2013 - The Financial Services Council (FSC) has labeled as unfair the federal government's decision to increase the threshold for inactive superannuation accounts. The measure, contained in the government's pre-election economic statement, would increase the threshold from $2,000 to $4,000 from 31 December 2015 and increase it again 12 months later in 2016 to $6,000. More...

Super sector to pass banks as capital allocator
MEDIA – 07 August 2013 - Australia's superannuation sector will soon surpass the banks as the nation's key allocator of capital – a profound shift in the nation's financial landscape. A University of Melbourne forum was told the projected growth in superannuation meant there would be less money flowing into bank deposits and this would have implications for the way the economy was funded. More...

Speech: An Industry Super Perspective on the Future of Financial Advice
AFA/MONEY MANAGEMENT – Thought Leadership Series – Competition, consolidation & Confrontation – the Post- Election Paradigm: Sydney 2013. Author: David Whitely, Industry Super Network.

An assessment as to whether the Future of Financial Advice (FoFA) reforms are likely to deliver on their objectives to increase consumer protections and extend the availability of financial advice to the Australian public (14 August 2013). More...

Forthcoming Events

Superannuation Insurance Symposium 2013
AIST's Super Insurance Symposium (SIS) will cover the important issues in relevant to group insurance, case law, insurance design and regulator updates to provide superannuation personnel the most current information and case studies to improve their internal insurance practices.
Date: 23 October 2013. More...

Fund Governance Symposium 2013
The FGS will cover the crucial issues in fund governance and works to place trustee directors and senior superannuation personnel in the best position to review and refine current governance practices and frameworks. Date: 22 October 2013. More...

ASFA 2013 Conference
The ASFA 2013 National Conference and Super Expo will be held 13-15 November at the Perth Convention and Exhibition Centre. More...

Australian Superannuation Investment Conference (ASI) 2013
The ASI Conference is scheduled for 4- 6 September 2013 on the Gold Coast

This year ASI will focus on global perspectives starting with the opening plenary showcasing some of the financial industry's heavy hitters. More...


Atlantic Securities Pty Ltd as Trustee for The Atlantic Superannuation Fund -v- Isalex Pty Ltd as Trustee for Isalex Superannuation Fund [2013] WASC 281

Practice and procedure - Costs - Principles governing exercise of costs discretion - Turns on own facts. More...



Superannuation and Corporations Legislation Amendment (Low Income Superannuation Contribution) Regulation 2013 (SLI 202/2013)

Commencement 7/08/2013 - This regulation commences on the day after it is registered.

This regulation amends the Superannuation (Government Co-contribution for Low Income Earners) Regulations 2004 and Corporations Regulations 2001 (registered 06 August 2013). More...

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