Editor's Choice
ASIC cancels AFSL of Australian Fiduciaries
ASIC has cancelled the Australian financial services licence (AFSL) of Queensland-based Australian Fiduciaries, which is currently in liquidation.
Treasury expects regulators to do the heavy lifting
Treasury has released new Statements of Expectations for APRA and ASIC, with an emphasis on how the regulators should promote a more sustainable and secured financial ecosystem.
NGS Super names head of strategy
NGS Super has appointed a former ASFA committe member as head of strategy, as the fund aims to strengthen its retirement offering.
SS&C axes jobs, shifts roles offshore
US software services giant SS&C Technologies has slashed 170 Australian roles in the operations, technology and delivery teams.
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Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
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The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
If they are non-compliant they should be issued with some kind of infraction notice. Give them two chances then if it happens again, ban them from having their own SMSF for life.
What an appalling article. The headline that 75,000 funds being non-compliant is a complete misstatement of the facts. I was at the the ICAA conference and in no way did Stuart Forsyth state that 15% of funds are non compliant.
He indicated that that 85% to 95% are responsible and act within the law. The 5% to 15% that do not act responsibly include in the main minor administrative breaches. He further indicated that approximately 2% of funds receive audit contravention reports from their independent auditors. It is the auditors role to issue the ACRs (not the ATO as written in the article) and the vast majority of the breaches are recified.
The ATO issues very few non-compliance notices but when they do it is a result that the trustees have had no regard to the law and deserve to be penalised.