On 17 February 2021, the Government introduced and read a first time Treasury Laws Amendment (Your Future, Your Super) Bill 2021 (Bill). The Bill was then referred to the Senate Economics Legislation Committee with a report due on 22 April 2021.
Read MoreTrustees need to ‘start their engines’ now to make sure they will be compliant with the design and distribution obligations that will come into effect on 6 April 2021. A project plan needs to be developed now that incorporates product and product governance audits. And that’s before the real work begins!
Read MoreNow is the time for trustees to carry out a holistic review of the processes and controls that govern the product life cycle. The design and distribution obligations that will come into effect on 6 April 2021 complement ASIC’s product intervention powers and ASIC will consult with the industry about them later this year.
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