Section 29QC of the Superannuation Industry (Supervision) Act 1993 (SIS Act) requires that information given to the public (e.g. in disclosure documents) be calculated in the same way that the information is reported to the Australian Prudential Regulation Authority (APRA) under an APRA reporting standard. ASIC Class Order [CO 14/541] provides relief from section 29QC …
ASIC has commenced civil penalty proceedings in the Federal Court alleging Telstra Super failed to comply with internal dispute resolution requirements. This is the first proceeding under this regime, which came into effect on 5 October 2021. The new regime makes certain provisions of ASIC’s Regulatory Guide for Internal Dispute Resolution (RG 271) enforceable, including …
ASIC takes civil penalty action against Telstra Super in Australian-first case Read More »
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