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Digging, digging, always digging for dirt
Rollover recognised that there would be those inside TWUSuper who would like to hope that the events of the Trade Union Royal Commission are now in the past and gathering dust.
But not if Victorian Liberal backbencher and chair of the House of Representatives Standing Committee on Economics, Tim Wilson, has his way.
You see it might be over half a decade since the Royal Commission into Trade Union Governance and Corruption was finished, but Wilson reckons there’s still political mileage to be gained in the relationship between the Transport Workers Union and TWUSuper.
Which is why Wilson dredged up the evidence that TWU ‘Superannuation Liaison Officers’ were paid $150,000 a year to encourage members to sign up to TWUSuper.
But Wilson went further in asking the Australian Securities and Investments Commission (ASIC) whether those same Superannuation Liaison Officers might have also been providing unlicensed financial advice.
The answer from ASIC was that there was not enough evidence to suggest any advice was actually provided but it will probably satisfy Wilson that the regulator said it would consider whether it should make further enquiries.
It would seem that there is many a fine tune played on an old fiddle.
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
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