Investment Strategy

Independent proposal condemned as a sledgehammer approach by Garcia, but ASFA is in favour

The Australian Institute of Superannuation Trustees’ (AIST) submission, in reply to the draft legislation to change the governance structure of super funds, has heavily condemned the approach of the Government as risky and not supported by evidence. By contrast, the Association of Superannuation Funds of Australia (ASFA) says the proposal reflects changing community expectations, the […]
Policy and Regulation

One year, not four, to prepare for super governance changes

Board’s will need to submit an approved and detailed transition plan to APRA by July 1, 2016 on how they intend to comply with the new, and as yet undefined, requirements for governance, including whether current directors can be considered independent. Many experienced people in superannuation will likely not be classed as independent leaving a […]
Policy and Regulation

Frydenberg lays out his agenda for super

Governance is at the top of Assistant Treasurer Josh Frydenberg’s agenda for superannuation. Speaking at the Financial Services Council (FSC) breakfast briefing in Sydney he said the Government believes the way to do this is by making sure there is an “appropriate number of independent directors” on superannuation fund boards arguing that this will help […]