ASIC defers portfolio holdings disclosure date

5 May 2016
| By Mike |
image
image
expand image

The Australian Securities and Investments Commission (ASIC) has confirmed that the start date for portfolio holdings disclosure reporting and choice product dashboard requirements have been deferred until 30 June, next year.

The regulator made the announcement as part of an update on aspects of the Stronger Super regime which it said was aimed at providing the superannuation industry with certainty around the start dates for key superannuation reforms.

It said the deferral of the start date would allow time for the Superannuation Legislation Amendment (Transparency Measures) Bill 2016 to pass and the Federal Government further time to consult on the detail of the requirements.

The ASIC announcement noted that the requirements were originally due to start on 1 July 2016.

ASIC said that, additionally, it had extended previous relief that allowed registrable superannuation entities (RSE) licensees to provide a product dashboard with a periodic statement by including a website address for the latest product dashboard, rather than requiring a hard copy of the dashboard to be included with the periodic statement.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

11 months ago
Kevin Gorman

Super director remuneration ...

11 months 1 week ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

11 months 1 week ago

Westpac has delayed its rate cut forecast, aligning with its peer NAB’s outlook on the likely trajectory for the Reserve Bank of Australia’s cash rate....

10 hours ago

The government’s adjustment to the Future Fund’s mandate could set a dangerous precedent, warns an economist, raising concerns that it may pave the way for problematic fu...

9 hours 41 minutes ago

The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remain...

11 hours 45 minutes ago