ASIC has outlined its transitional approach to the enforcement of a new ban on any advertising of superannuation funds occurring during the employee onboarding process, set to commence on 1 July 2026.

The ban, which does not apply to general advertising to the public, aims to protect employees from being influenced to make uninformed decisions, which may include opening inappropriate products or unintentionally creating duplicate superannuation accounts.

MySuper products that meet the legislated criteria, employer default funds, and an employee’s stapled fund are exempt from the ban.

ASIC acknowledges it will take time for entities to build the capabilities needed to meet these new requirements. As such, for a period of 12 months from 1 July 2026, ASIC will take a balanced approach to the ban on advertising.

Any enforcement action will likely be directed at misconduct that is serious or reckless in nature and not where entities are making honest attempts to comply with the new requirements.

The changes to the Corporations Act 2001 are implemented by provisions under the Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Act 2026 (the Act). The Act also allows for regulations to provide greater details on the conditions and disclosures required.

ASIC intends to provide updated guidance once any regulations have been made.

ASIC is Australia’s corporate, markets and financial services regulator.