News : Regulation

Regulation, Superannuation

Treasury releases updated SG draft

Treasury today released an exposure draft of the updated Superannuation Guarantee (Administration) Regulations 2018 as the 1993 iteration is scheduled to sunset on 1 October 2018.

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Regulation, Superannuation

Treasury releases SMSF SuperStream draft laws

Treasury today released its exposure draft to amend the Superannuation Industry (Supervision) Regulations 1994 (SISR) to extend the operation of SuperStream to capture SMSFs, with the consultation period now open.

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Investments, Regulation

Managers must deliberate franking ban

Asset managers that offer investments with excess franking credit refunds will need to rethink their offerings and prepare for likely client departures should Labor’s proposed franking ban transpire.

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Education, Financial Planning, Regulation

Enforce bridging course if advisers fail exam

Financial advisers and accountants should only be compelled to do bridging courses under the new education reforms if they fail the national financial adviser examination proposed by the standards board, according to an academic.

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Auditing, Regulation

Audit paper, consultation period welcomed

The SMSF Association is pleased with Treasury’s decision to address initial industry concerns and provide an eight-week feedback period for its discussion paper on the proposed three-yearly audit cycle for some SMSFs as the next steps for the policy are crucial.

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Auditing, Compliance, Regulation

Triennial audit feedback period begins

Treasury has released a discussion paper to commence industry consultation on its three-year audit-cycle policy for well-run SMSFs.

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Regulation

ASIC report reveals holes in SMSF advice

The majority of financial advice on setting up an SMSF does not comply with relevant laws, indicating a need for significant improvement in SMSF advice, according to the corporate regulator.

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Regulation

ASIC funding legislation passed

The bill containing the measure that supports the fees-for-service industry funding for the Australian Securities and Investments Commission (ASIC) passed through Parliament today.

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Regulation

SMSFs retirement income leaders

The SMSF sector is leading the way with regard to retirement income solutions due to the large number of its members being in retirement or pre-retirement, a senior funds management executive has said.

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Regulation

Poor understanding of hybrid risk remains

A majority of SMSF investors who hold hybrid securities do not appreciate all of the risks associated with the investment, according to BetaShares.

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