Rollover sends his sympathies to all those industry superannuation fund chief executives who opened their mail in mid-December only to discover that it was not a Christmas card but, rather, a letter from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
But he is told that not all industry fund CEOs actually received a pre-Christmas surprise from the Royal Commission and that those whose funds have sponsored sporting teams or contributed to Industry Super Australia’s “compare the pair” and “fox in the hen house” advertising campaigns have proved luckier than those that did not.
For reasons which Rollover can only guess at, those industry fund CEOs who have not yet received a letter from the Royal Commission have asked that your correspondent not do or write anything that might draw attention to the manner in which they have been neglected.
In the meantime, and as is usually the case with Royal Commissions, it seems that all benefits will go to the law firms, with one Melbourne-based firm finding itself particularly busy.
