MAGED GIRGIS

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 […]
Hedge Funds

What are a trustees legal obligations on climate change?

Maged Girgis, partner at Minter Ellison, points out the growing likelihood of legal challenge for trustee directors that ignore analysis and evidence of global warming in their investment decisions, but he says any decision to include or exclude carbon-intensive assets must be one that involves, analysis, deliberation and information gathering. Recently there has been an […]
Policy and Regulation

Superannuation Complaints Tribunal appoints new chair

The Government has appointed Helen Davis as the Superannuation Complaints Tribunal’s (SCT) full-time chair for a period of five years. Davis set up her own superannuation consultancy firm in 2013 and held a number of senior roles at QSuper from 2008 to 2012 including chief strategy officer and chief officer, member outcomes. Prior to this […]
Policy and Regulation

ISA campaign against bank cross-selling overlooks regulation

Industry Super Australia (ISA) research has not sufficiently addressed exemption regulation in its claim that banks have been involved in systemic breaches of the Superannuation Industry Supervision (SIS) Act, a superannuation legal expert said. ISA has taken a broad brush stroke approach to section 68A of the Act summing it up as prohibiting the offering […]
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