ASIC to let funds give limited advice…temporarily

A spokesperson for one super fund expressed concern that funds should not be advising members about switching options without taking their whole financial situation into account. Vamos and Reynolds, however, said that they hoped this latest ASIC measure would lead to longer-term reform enabling funds to give simple advice. The Financial Services Working Group currently has submissions on this issue before Treasury.

 

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Aware backs tougher law to ensure company action against modern slavery

Aware Super has backed the call for a legislative change that will introduce mandatory human rights due diligence for large Australian companies, as head of responsible investment Liza McDonald said it’s a “reasonable request” which will help asset owners understand and manage the governance risks in their portfolios.

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