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Showing 1 - 5 of 5 results for "Best Financial Interests Duty"

Include ESG in BFID: FSC

KANIKA SOOD  |  TUESDAY, 13 APR 2021
... Services Council (FSC) 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 ...

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 ...

SMSFs primed for best financial interests duty

KARREN VERGARA  |  TUESDAY, 16 FEB 2021
Self-managed superannuation funds are ahead of the game in terms of meeting the looming best financial interest rules, according to its peak body. SMSF Association deputy chief and director of policy and education Peter Burgess told the association's ...

The trouble with best financial interests duty

KARREN VERGARA  |  WEDNESDAY, 10 FEB 2021
The best financial interests duty reform has major loopholes and lacks guidance from regulators, leading to major confusion for superannuation trustees. The fourth element of the proposed Your Future, Your Super reforms should be abandoned, according ...

Retail superannuation funds grilled on member priorities

KARREN VERGARA  |  TUESDAY, 24 NOV 2020
... Deputy chair and MP Andrew Leigh broached the notion: "How does a for-profit fund adhere to the best financial interests duty? This is straightforward for an industry fund because there's no overarching owner who's taking profit out of the fund." ...
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