Royal commission reveals round five focus

The royal commission’s next area of focus has been announced by commissioner Kenneth Hayne ahead of the fifth round of public hearings kicking off in August.

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has announced the topics for its fifth round of public hearings, which will focus on superannuation.

The main topic will be the "duties of registrable superannuation entities (RSEs)", including structural and governance arrangements, the relationship between trustees and financial advisers, and selling practices.

Under the topic of the "duties of RSEs", counsel assisting will examine case studies involving AMP Super and NM Super, AustralianSuper, Catholic Super, Colonial First State, Electricity Supply Industry Superannuation, Hostplus, IOOF, Mercer, NULIS (MLC/NAB), Onepath and Oasis (ANZ), Suncorp, Sunsuper and United Super (Cbus).

On the second topic, "superannuation funds and Aboriginal and Torres Strait Islander members", there will be a sole case study involving QSuper.

Finally, the third topic, "effectiveness of superannuation regulators", will involve case studies with APRA and ASIC.

Advertisement
Advertisement

"In addition, counsel assisting will tender statements from RSE licensees not named above during the hearings," the statement said.

The fifth round of public hearings of the royal commission will be held in Melbourne at the Owen Dixon Commonwealth Law Courts building from Monday, 6 August to Friday, 17 August 2018.

Royal commission reveals round five focus
Kenneth Hayne, Rowena Orr, Michael Hodge, superannuation, RSE. super trustee, AMP Super, NM Super, AustralianSuper, CatholicSuper, Colonial First STate, Electricity Supply Industry Superannuation, Hostplus, IOOF, Mercer, NULIS, MLC, NAB, Onepath, Oasis, ANZ, Suncorp, Sunsuper, United Super, CBus
ifa logo

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

from the web

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.