Superannuation Fees In ASICs Spotlight

The current Parliamentary Joint Committee on Corporations and Financial Services has been busy this week needling ASIC about all manner of things. It has revealed that ASIC will be looking at the fairness of advice fees across the superannuation industry. Around the same time there was a call from the Association of Superannuation Funds of Australia (ASFA) for a comprehensive audit of regulators including ASIC, APRA and the ATO to make sure they are doing their jobs “properly and efficiently”.