Any industry which cannot work through its infighting to resolve industry challenges is likely to be viewed skeptically. Of course, for superannuation the majority of contributions are mandatory: this should be a sector where self-interest doesn’t exist.
The efficacy of Treasurer Josh Frydenberg's temporary solution to the the government's code monitoring quandary is in question after ASIC revealed that only a smattering of licensees have reported adviser breaches to the corporate regulator.
The architect of the 2015 Life Insurance Review said the government’s failure to heed his warning on adviser remuneration has left riskies “unable” to service smaller clients. Most insurance is through super anyway, ASIC’s deputy chair responded.
Half of the Hayne reforms are still unresolved, a panel has heard, but now may be the time to ask if the industry responded in the right way and whether it's got the foundations right for an advice reset.