Super watchdog failing to bite back

Original article by Michael Roddan
The Australian – Page: 13 & 15 : 17-Dec-18

The Australian Prudential Regulation Authority’s proposed changes to the member outcomes test for superannuation funds’ trustees have been criticised by industry bodies. Australian Institute of Superannuation Trustees CEO Eva Scheerlinck says the revised standards should have given greater priority to net investment returns, noting that the purpose of the reforms was to address the issue of super funds that consistently underperform. A draft report from the Productivity Commission in June had advocated a much stricter outcomes test.

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, AUSTRALIAN INSTITUTE OF SUPERANNUATION TRUSTEES, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AMP LIMITED – ASX AMP, AMP SUPERANNUATION LIMITED, NM SUPERANNUATION

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