Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Australia pushes for stronger super regime

Thursday, May 05, 2016

Komfie Manalo, Opalesque Asia:

Australia’s market regulator, the Australian Securities & Investments Commission (ASIC) provided new update on aspects of the Stronger Super regime aimed at providing the superannuation industry with certainty around the start dates for key superannuation reforms.

The start date for portfolio holdings disclosure reporting and choice product dashboard requirements will be deferred until 30 June 2017 to allow time for the Superannuation Legislation Amendment Bill 2016 to pass and to give the federal government further time to consult on the detail of the requirements. These requirements were due to start on 1 July 2016.

Additionally, ASIC has extended previous relief that allows registrable superannuation entities (RSE) licensees to provide a product dashboard with a periodic statement through a website link, rather than requiring a hard copy of the dashboard to be included with the periodic statement.

The start date for certain disclosures required under section 29QB of the Superannuation Industry (Supervision) Act 1993 (SIS Act) for standard employer-sponsored sub-plans has also been further deferred until 1 July 2017. This deferral is to give RSE licensees enough time to transition to compliance with the full requirements of section 29QB of the SIS Act. From 1 July 2017, RSE licensees must comply in full with the s29QB requirements, including for relevant sub-plans.

The deferrals will provide industry with certainty abo......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1