How long have these ads been running? 5 or 6 years? It's only taken ASIC this long to realise that they could possibly be "misleading to consumers"? Regulator asleep at the wheel again, or were the bureaucrats just adhering to Labor's superannuation agenda? The headline "ASIC EXPRESSES CONCERN THAT INDUSTRY FUND ADS WERE MISLEADING TO CONSUMERS", should be plastered across the front page of every newspaper.

Now that the commission thing is dead ISA will have to find something else to hang their hat on. Service perhaps? But hey, that might cost a lot more to do, as well as their competitors. I bet the comparative ads stop if/when new cheaper competitor products outperform industry funds, eg, notice how they used to bang on about Master Trusts but now it's Retail Funds.

Reply to article

For original story, Click Here.