Mercer Super in ASIC’s crosshairs for alleged member services failures
ASIC is taking the $71 billion Mercer Super to court over allegations that it failed to comply with the reportable situations regime by not informing the regulator about investigations into “serious member services issues”.
August 14, 2025
DBFO a ‘time-sensitive’ and important reform: Mulino
The new Minister for Financial Services and Assistant Treasurer Daniel Mulino told the Conexus Retirement Leaders Summit that he intends to have Tranche 2b draft legislation out this year and that the reforms remain a top priority. Mulino said consultation on the draft could be relatively quick given the level of consultation already undertaken.
August 13, 2025
Best practice retirement principles leave funds no excuses for not doing better
Treasury’s consultation on a set of best-practice principles for retirement income solutions sets out the things all funds should do to give members the best possible outcomes. The guidelines, if implemented, will lift standards across the superannuation industry but critics say thatfunds must also stay focused on the highly individualised needs of members.
August 13, 2025
Entireti acquires IOOF Alliances, rebrands self-license service business
Entireti has acquired Insignia Financial’s self-licensed business, IOOF Alliances, and will merge it with the licensee-to-licensee offer it picked up from AMP in the megadeal that saw the wealth giant’s licensees move last year.
August 12, 2025
ASIC ponders next steps over AFSL PI deficiencies
The corporate regulator has expressed concerns over the lack of transparency around what professional indemnity insurance cover advice licensees have with potential action to come. While ASIC said there have been some improvements with PI coverage for Australian advice firms improving, there was still also concerns over the time it takes to finalise claims.
August 11, 2025
Top tips for easing the burgeoning compliance burden
As the compliance burden on advisers gets heavier, four experts share their strategies for easing the load. Their messages are simple, and can be adapted to work seamlessly with existing processes and workflows.
August 08, 2025
Performance test review on the table
The Albanese government is expected to hold a review of the Your Future Your Super performance test within the next year to ensure super funds can invest in members’ best financial interests. While supporters credit the test for weeding out poor funds and helping to keep fees low for members, critics warn it has encouraged herding behaviour and disincentivises ESG and sustainable investment.
August 08, 2025
InterPrac cutting ties with second firm linked to Shield, First Guardian failures
Sequoia-owned licensee InterPrac is in the process of terminating its relationship with Reilly Financial, one of the advice firms under investigation by the corporate regulator as part of its response to the $1.2 billion Shield and First Guardian collapse.
August 07, 2025
