News Article
Op-Ed - Big boost awaiting super
By Blake Briggs, CEO of the FSC Australians would collectively benefit from $16bn more in retirement savings and $22bn in additional retirement income by 2050 if the government removed barriers that prevent superannuation funds and fund managers from transferring consumers to innovative, new investment products.
Government responds to the Quality of Financial Advice Review
The Financial Services Council has welcomed the Government’s response to the Quality of Advice Review and its commitment to remove costly red tape imposed on financial advisers this year.
Measure super’s success against retirement incomes, not the size of the pool
By Blake Briggs, CEO of the FSC The success of Australia’s superannuation system is too often measured by its rapid growth to $3.4 trillion in savings, not by its actual objective, which is to provide income for Australians in retirement.
Life Insurance Framework Evaluation
The FSC recently published its submission to the Quality of Advice Review that importantly included a response to Treasury’s evaluation of the Life Insurance Framework (LIF).
Greater consistency and accuracy needed to avoid greenwashing
With growing funds under management in ESG themed investment products, ASIC undertook a thematic review into greenwashing, looking into the disclosures of selected managed funds and superannuation funds.
Policy and Advocacy update - July 2022
Next month, the new Government will have just ticked over their first 100 days. Early signs, including regular engagement in Canberra by the FSC, indicate the new Government is focused on implementing election commitments.
Strong industry alignment on Quality of Advice Review
The FSC has committed to a joint submission to the Quality of Advice Review between 11 advice associations that is aligned to the FSC’s policy positions.
Next steps for the Corporate Collective Investment Vehicle
An important reform to financial services, Corporate Collective Investment Vehicle (or CCIV) came into operation on 1 July this year. The CCIV will provide, for the first time, an Australian investment vehicle that combines the corporate legal framework of a company with flow-through tax treatment.
FSC liaison with Australian Taxation Office steps up
The FSC works closely with the Australian Taxation Office (ATO) on many issues of importance to members.