The regulator said it has concerns Kalkine's customer service representatives were providing unlicensed financial advice.

As politicians, industry groups, and financial experts spar over the $3 million super tax, which will only affect a fraction of Australians, another critical problem is being ignored.

While we know that during turbulent times it is critical not to let emotions get in the way of investing, an investment expert and former policymaker says it is equally important to remain active and not lean in on cash.

The staff superannuation scheme's investment head has resigned after less than a year in the role.