Financial Services Council (FSC)

Investment Strategy

Default super remains uncompetitive: FSC

The Productivity Commission has failed to recommend an open, transparent and competitive superannuation system, according to the Financial Services Council (FSC). “This report is a bitter disappointment and a missed opportunity,” chief executive of the Financial Services Council, John Brogden said. “Default superannuation will remain the domain of the industrial system. Twenty years on, nothing […]
Investment Strategy

Industry bodies in spat over governance

The Industry Super Network (ISN) and the Financial Services Council (FSC) are at loggerheads over FSC draft governance guidelines on the definition of independent directors on super funds operated by banks and insurers. ISN chief executive David Whiteley has told I&T news in a telephone interview that the FSC regulations, which he claims would allow […]
Policy and Regulation

Default-super billions
may change hands

Industry superannuation funds could lose their claim on billions in new cash flows as the Productivity Commission seeks a new way of choosing workers’ default funds based on MySuper. Industry funds’ preferred status saw them gain much of the $3.5 billion in superannuation payments made through industrial awards in 2010, according to the Productivity Commission. […]