Opinion: Super changes sharpen its
MEDIA – 27 May 2016 – The government is committed to
ensuring Australia's superannuation system is sustainable,
flexible and has integrity. The objective of super, as recommended
by the Financial System Inquiry, is "to provide income in
retirement to substitute or supplement the age pension".
APRA data highlights the need for greater scrutiny of
for-profit culture in superannuation
ISA – 24 May 2016 – New APRA quarterly data released
today on the performance of Australia's superannuation funds
shows not-for-profit funds continue to outperform "for
profit" retail and bank-owned competitors with 1.89% in
average returns over the last 11 years.
APRA quarterly superannuation statistics, March
APRA – 24 May 2016 – APRA has released quarterly
superannuation statistics for March 2016. More...
ASFA – 20 May 2016 – Submissions to:
Productivity Commission – Superannuation Efficiency and
ASIC – CP 254 Regulating digital financial product
FPA submissions: ASIC CP 254: Regulating digital
financial product advice
FPA – 18 May 2016 – The Financial Planning Association
of Australia (FPA) has provided input to ASIC on
the regulation of digital financial product advice.
Proposed Financial Institutions Supervisory Levies for
2016-17: Discussion Paper
GOVERNMENT – 6 May 2016 – This paper, prepared in
conjunction with the Australian Prudential Regulation Authority
(APRA), seeks submissions on the proposed
financial institutions supervisory levies that will apply for the
2016-17 financial year. Submissions close on 3 June 2016.
Williams v IS Industry Fund Pty Ltd  FCA
SUPERANNUATION – appeal from the Superannuation Complaints
Tribunal under s 46 of the Superannuation (Resolution of
Complaints) Act 1993 (Cth) limited to a question of law
– consideration of definition of "interdependency
relationship" in s 10A of the Superannuation Industry
(Supervision) Act 1993 (Cth) and reg. 1.04AAAA of the
Superannuation Industry (Supervision) Regulations 1994
(Cth) – whether the Tribunal was required to determine if the
applicant and the deceased had an interdependency relationship
immediately before the death of the deceased – whether the
Tribunal was required to determine if the applicant and the
deceased were living together immediately before the death of the
deceased – whether if the Tribunal determined it was required
to consider that was because the deceased suffered from a physical
Burtaleea v AustralianSuper Pty Ltd  FCA
SUPERANNUATION – whether "determination" made by
the Superannuation Complaints Tribunal in treating a complaint as
withdrawn – whether applicant could appeal to Federal Court
of Australia – Tribunal's decision that complaint be
treated as withdrawn not a "determination" under s 46 of
the Superannuation (Resolution of Complaints) Act 1993
(Cth) – no right of appeal – appeal dismissed.
Legislation – Commonwealth
ASIC Corporations (Superannuation and Schemes:
Underlying Investments) Instrument 2016/378
This instrument continues, with minor and technical changes, the
relief given under ASIC Class Orders [CO 02/1161], [CO 02/1073] and
[CO 02/1074] in relation to various Chapter 7 requirements that
apply to underlying investments in a superannuation fund. It
combines the three Class Orders into one instrument. Registered: 16
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