5 of 13 ‘failed’ super funds in merger talks
Five of the 13 superannuation funds which failed the Australian Prudential Regulation Authority’s (APRA’s) performance test are in merger discussions.
APRA member, Margaret Cole has told a Parliamentary Committee that the regulator was aware of five of the funds being in merger discussions and that APRA was continuing to encourage them in that direction.
Appearing before the Senate Economics Committee, Cole said that while APRA did not have the power to compel mergers, it was applying “moral suasion” to push them in that direction.
Cole said that for many of the funds the most effective means they could apply to pass next year’s performance test would be to reduce fees, which would be a good thing.
If only the Govt and ASIC put in the same time and effort to ensure retail advisers were better equipped…
I was a risk only adviser for the last 15 years of my advice career. I.e. no inveestment advice in…
Outstanding contribution with analytical precision. Balanced and yet crucially critical on incompetent policy thinking in a free market. Well done…
How is an unrelated sub sector of any real difference to an unrelated Adviser that has nothing to do with…
You're clearly an AIOFP member and most likely licensed by Interprac, The AIOFP record in this area is abhorent.