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Media Releases

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24 August 2023 · Media release

Media Release: Superannuation delivering on its promise to Australians

The Financial Services Council (FSC) welcomes the Government's announcement to strengthen the accessibility of retirement products to help Australians make the most of their superannuation savings as part of releasing the 2023 Intergenerational Report.

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30 June 2023 · Media release

Media Release: Consumers to benefit from enhanced services standards and protections from 1 July

The Financial Services Council (FSC) welcomes important changes to financial services products, superannuation funds and life insurance policies that come into effect on 1 July 2023.

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16 June 2023 · Media release

Media Release: Consumers must seek financial advice before making financial decisions based on Government’s performance test notifications

The Financial Services Council (FSC) today cautioned consumers to seek financial advice before acting on performance test notifications for superannuation products, as defective Government regulations risk failing to address methodological issues built into the test for the new class of trustee-directed products. [1]

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12 June 2023 · Media release

Media Release: GOVERNMENT COMMITS TO REDUCE FINANCIAL ADVICE RED TAPE

The Financial Services Council (FSC) has welcomed the Government’s response to the Quality of Advice Review and its commitment to prioritise ‘Stream One’ of its reforms, which are designed to remove costly red tape imposed on financial advisers.

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6 June 2023 · Media release

Media Release: FSC promotes regulatory best practice on Design and Distribution Obligations

The Financial Services Council (FSC) is building on promoting best regulatory practice across the funds management industry in the interest of consumers with the release today of an updated template Target Market Determination (TMD) for funds management.

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1 June 2023 · Media release

Media Release: New consumer resources released to support Life Code

The Financial Services Council (FSC) is proud to announce the upcoming implementation of the New Life Code of Practice (new Life Code) on 1 July 2023, which will introduce over 50 comprehensive consumer protections that will change the way customers interact with their life insurers.

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30 May 2023 · Media release

Media Release: Industry first Trans-Tasman Summit announced

The Financial Services Councils of Australia and New Zealand are pleased to announce the first ever Trans-Tasman Strategic Leaders Summit for the financial sector, to be held on 5-7 March 2024 in Auckland.

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21 May 2023 · Media release

Media Release: FSC appoints new board member

The Financial Services Council (FSC) is pleased to announce the appointment of Kelly Power, Chief Executive Officer of Colonial First State Superannuation, to the FSC Board.

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8 May 2023 · Media release

Media Release: FSC welcomes disciplined Federal Budget

The Financial Services Council (FSC) welcomes the disciplined Budget position, with spending constraint delivering a $4.2 billion surplus built on a solid domestic economy.

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1 May 2023 · Media release

Media Release: FSC welcomes aligning superannuation payment 'same day' as wages

Today’s announcement by the Government to increase the frequency of superannuation guarantee payments to align with wage and salary cycles is a welcome outcome that will benefit Australian consumers.

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