In the media
Make superannuation an essential service –
ASFA
The Association of Superannuation Funds of Australia has approached
the Commonwealth and State Government seeking its case forward for
recognition of superannuation funds as an essential service (31
March 2020).
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ATO alone wholly responsible for identifying super early
release applicants
The Federal Government has confirmed that the Australian Taxation
Office will be wholly responsible for identifying and verifying
hardship early release superannuation candidates, with no
involvement on the part of AUSTRAC (30 March 2020).
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COVID-19 update: AUSTRAC supports the ATO online early
release of super initiative
The COVID-19 global pandemic is impacting all Australians and
Australian businesses. AUSTRAC acknowledges that this is an
unprecedented time for the superannuation sector (27 March 2020 ).
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Court confirms Storm Financial founders breached
duties
The Full Federal Court has confirmed the directors of Storm
Financial Group breached their duties as directors, dismissing
their appeal of ASIC's 2016 decision (27 March 2020).
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Big four banks public hearings deferred, Super liquidity
issues up for scrutiny
The House of Representatives Standing Committee on Economics has
deferred its hearings with the four major banks on 12 June and 26
June until later in 2020 (27 March 2020).
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APRA adapts 2020 agenda to prioritise COVID-19
response
APRA is suspending all substantive public consultations and actions
to finalise revisions to the prudential framework that are
currently underway or upcoming, including consultations on
prudential and reporting standards (23 March 2020).
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Code reporting signals strong commitment to governance
across $1.4 trillion profit-to-member sector
Australia's profit-to-member superannuation funds – which
include industry, public-sector and corporate funds - have
demonstrated a strong commitment to the high standards of corporate
governance set by AIST's Governance Code in their reports
against the Code for fiscal year 2019 (23 March 2020).
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