Changes which would have revealed more about the investments of superannuation funds to members have been yet again delayed, while government backbenchers campaign for more information and restrictions on the investments of industry super funds. Portfolio Holdings Disclosure – which would require most super funds to publicly release details of their investments – have been… Continue reading Super fund disclosure rules delayed yet again, as backbench campaign for transparency
Tag: Super fund Portfolio Holdings Disclosure (PHD)
Portfolio Holdings Disclosure for super funds delayed for a fourth time
Portfolio Holdings Disclosure for superannuation funds has now been delayed for a fourth time, until 31 December 2020. The earliest point at which super funds will be required to disclose more about the assets they hold will be 8 years after the legislation passed, after ASIC further delayed the start date for super fund Portfolio… Continue reading Portfolio Holdings Disclosure for super funds delayed for a fourth time
ASIC again delays Stronger Super disclosure start dates
ASIC has further pushed back the starting date of superannuation disclosure requirements from the Stronger Super reforms. ASIC announced that two parts of the Stronger Super reform package, the product dashboard requirements for choice products and portfolio holdings disclosure requirements, would start two years later than previously planned – on 1 July 2019. This means… Continue reading ASIC again delays Stronger Super disclosure start dates
Almost $1 trillion of superannuation fund assets are undisclosed
Almost $1 trillion of assets held by Australia’s fifty largest superannuation funds are undisclosed, according to analysis by environmental campaigners Market Forces. This equates to 83% of assets held by these funds being undisclosed, though there is considerable variation between funds. On average the fifty funds disclose only 16.6% of their portfolio, with 19 funds… Continue reading Almost $1 trillion of superannuation fund assets are undisclosed
ASIC delays Portfolio Holding Disclosure reporting till 2017
ASIC has delayed the start date for Portfolio Holding Disclosure reporting and Choice Product Dashboards until 30 June 2017. Both these measures, part of the Stronger Super regime, were due to start on 1 July 2016. ASIC says the deferral was “aimed at providing the superannuation industry with certainty around the start dates for key… Continue reading ASIC delays Portfolio Holding Disclosure reporting till 2017
Carve-outs make super fund disclosure “useless”, says ISA
Industry Super Australia has criticised changes to the disclosure rules for large superannuation funds, saying there “will be next to no benefit for consumers in weak ‘transparency’ measures introduced into federal Parliament”. “Instead, banks and their ‘for-profit’ super funds will continue to bury facts about fees and investment returns for too many of their investment… Continue reading Carve-outs make super fund disclosure “useless”, says ISA
Super fund choice and disclosure Bills put before Parliament
The Government has introduced three superannuation-related Bills to the House of Representatives just before the Parliament rises for the long break ahead of the Budget. These Bills include expanding choice of super fund, changes to the disclosure requirements on large super funds and the Statutory Remedial Power for the ATO. Expanding choice of super fund The Superannuation… Continue reading Super fund choice and disclosure Bills put before Parliament
Super fund portfolio disclosure draft legislation released
The Treasury has released exposure draft legislation containing changes to the portfolio disclosure and product dashboard requirements for large superannuation funds.
ASIC extends Stronger Super disclosure deadline
ASIC has extended several deadlines for large superannuation funds to meet disclosure requirements of the Stronger Super regime. These requirements were set to commence from 1 July 2015. This date has been pushed back to 1 July 2016 following the issue of several legislative instruments by ASIC. “The start date for portfolio holdings disclosure reporting and choice product… Continue reading ASIC extends Stronger Super disclosure deadline