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Showing 1 - 4 of 4 results for "BFID"

Labor to push for YFYS stapling amendments

KANIKA SOOD  |  WEDNESDAY, 19 MAY 2021
... usher in an era of red tape and bureaucracy that has never been seen in superannuation funds management," Jones said of the BFID. "There should be materiality test. I actually don't see a need for reverse onus. Yes, funds should be operating in the ...

Include ESG in BFID: FSC

KANIKA SOOD  |  TUESDAY, 13 APR 2021
... wants superannuation funds' ESG investments to be included in the proposed Best Financial Interests Duty. The government's BFID wants super trustees to make decisions that are in best "financial" interests of their members. The inclusion of the word ...

"Financial" in BFID is no big deal: Academic

KANIKA SOOD  |  WEDNESDAY, 7 APR 2021
... subjecting superannuation funds to "best financial interest duty" instead of just "best interest duty" is not material, but BFID's flow-on effects will be concerning for trustees. University of New South Wales director for centre of law, markets and ...

Admin fees could balloon from BFID

KARREN VERGARA  |  TUESDAY, 16 MAR 2021
The new best financial interests duty (BFID) could see members pay higher administration fees as the record-keeping obligations ramp up, superannuation funds and industry experts warn. The reforms, which are part of the Your Future Your Super legislation ...
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