Superannuation funds

This section gives guidance about ASIC's role in super, the Stronger Super reforms and compliance requirements for superannuation trustees.

ASIC's role in super    

ASIC is principally responsible for the enforcement of the Corporations Act 2001 (Corporations Act) which regulates the conduct and disclosure obligations of financial services providers (including superannuation trustees that hold an Australian financial services (AFS) licence).

As the conduct and disclosure regulator, ASIC’s role primarily concerns the relationship between trustees and individual consumers. ASIC aims to look after consumers ensuring they receive proper disclosure, are dealt with fairly by qualified people, continue to receive useful information about their investment or product and can access proper complaints-handling procedures. Promoting investor and financial consumer trust and confidence is one of ASIC's strategic priorities.

More about ASIC's role in super (including the role of co-regulators and the Superannuation Complaints Tribunal)

Stronger Super reforms

The purpose of the Government's Stronger Super reforms is to make the Australian superannuation system stronger and more efficient, and to help maximise retirement income for superannuants.

More about the Stronger Super reforms

Shorter PDS regime

The shorter PDS disclosure regime commenced fully on 22 June 2012 and ASIC has recently issued further guidance, and provided interim class order relief, to issuers of some products.

More about the shorter PDS regime

Super switching advice

This information sheet provides general information and compliance tips for financial advisers who provide super switching advice.

Read the information sheet

Related information

What's new

Responsible entities that are also a registrable superannuation entity – adequate resources and adequate risk management systems 

On 26 June 2013, Parliament amended subsection 912A(1) of the Corporations Act 2001 to improve governance arrangements for responsible entities of registered managed investment schemes.

Further guidance and relief from ASIC - January 2015

ASIC has released a letter to all trustees to update them about activities at ASIC, including relief and other regulatory material available, and ASIC's new liaison plan.

Dual regulated entities - changes for 1 July 2015

ASIC and APRA have written to all trustees who are also responsible entities of managed investment schemes to outline the changes that will apply to them as of 1 July 2015 regarding adequacy of resources and risk management.

More releases on superannuation

Last updated: 02/02/2015 05:21