Superannuation administration software specialist Supercorp Technology has secured an agreement for the provision of direct daily bank data feeds from accounting software company MYOB.

A panel of industry experts has rejected the idea the ATO’s responsibilities as the sector regulator could be compromised as the new compliance penalty regime builds momentum and is potentially regarded as a solid fiscal revenue stream for the government.

The federal government’s proposed requirement for Australian Prudential Regulation Authority (APRA)-regulated superannuation funds to have an independent chair and one-third of their boards made up of independent directors has been welcomed by two SMSF industry bodies.

An Australian Securities and Investments Commission (ASIC) investigation has resulted in the principal of Sherwin Financial Planners being charged with a number of fraud offences.

Specialist SMSF administration provider Class Super has extended its series of key relationships with other industry organisations with the announcement of a newly formed partnership with actuarial certificate provider Haintz Actuarial.

Financial advisers must have a set of procedures in place to facilitate the wind-up of an SMSF, according to an industry expert.

In its submission to the federal government’s tax white paper, the SMSF Association has expressed its preference for the tax rules applying to superannuation to remain unchanged.