POWERED BY MOMENTUM MEDIA
RC to examine ‘fox in the henhouse’
The standing of Industry Super Australia’s so-called “fox in the henhouse” advertisements will be examined by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Counsel assisting the Royal Commission, Michael Hodge QC specifically referenced in the advertisements in the context of the so-called sole purpose test under the Superannuation Industry (Supervision) Act.
In doing so, Hodge noted that questions around the advertising had already been raised by the Australian Prudential Regulation Authority (APRA).
The “fox in the henhouse” advertising was funded via Industry Super Australia on behalf of a number of its constituent industry superannuation funds and attacked bank-owned superannuation funds.
Recommended for you
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
A professional says all roads will lead back to superannuation in the next election.
Iress has said that incident involving the unauthorised access reported this week extends beyond what was initially reported.
Treasurer Jim Chalmers delivered the Albanese government’s third federal budget on Tuesday evening (14 May), touting a balanced approach in an environment of cross-currents.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
59.27 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.01 3 y p.a(%)
Add new comment