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ARTICLE · 05 OCTOBER 2020

Superannuation monthly update – Regulator updates, Legislation, Cases and other recent developments

Holding Redlich
Holding Redlich
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Holding Redlich

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This update links to super regulator updates, legislation, cases and recent developments relating to superannuation.

AustraliaFinance and Banking
Luke Hooper
Luke Hooper
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Regulator updates

ASIC updates the fees and costs disclosure regime (9 September 2020)

ASIC reminded trustees that they can choose to opt-in to the new fees and costs regime for periodic and exit statements (which commenced from 1 July 2020) and for product disclosure statements (PDS) from 30 September 2020. To opt-in, the trustee must make a written record that includes the date of election and the PDS or product to which the election applies.

A key deadline is the requirement that periodic and exit statements with reporting periods commencing on 1 July 2021 must comply with the new requirements, meaning that the new requirements for exit statements will be triggered for exits on or after 1 July 2021.

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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