Lost Member and Unclaimed Money processing requires superannuation trustees to identify members who meet specific criteria and either report or transfer the member account balances to the Australian Taxation Office (ATO) twice per year. The underlying intent of each regime is to provide the opportunity for members to be reunited with their superannuation in situations where there is a risk this may not otherwise occur.
Read MoreIt has been over a year since the new Internal Dispute Resolution (IDR) came into force for Australian Financial Services and Credit licensees. This reform, in the form of Regulatory Guide 271 has changed the way in which complaints are required to be identified and managed. In this article, we summarise the main requirements and identify some key considerations for licensees to ensure preparedness for the IDR reporting regime.
Read MoreQMV is pleased to release a data assurance content pack dedicated to helping trustees to monitor compliance with the Putting Members’ Interest First reforms. This pack complements existing definitions and rules content available across Investigate including the recent Protecting Your Super data assurance content pack.
Read MoreQMV is pleased to release a data compliance assurance content pack dedicated to helping funds adhere to the Protecting Your Super reforms. This pack complements existing definitions and rules content available across QMV’s data quality management platform, Investigate.
Read MoreThe risks of managing other people's money have been laid bare over the course of the ongoing Royal Commission into Misconduct in the Banking, Superannuation and Financial Services. Taking a closer look at the internal control environment is a sensible place to start rebuilding trust.
Read MoreThe Federal Government announced a number of significant superannuation reforms in the 2016 Federal Budget in an attempt improve the integrity...
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