The Productivity Commission’s (PC) interim report is an important step towards introducing genuine competition in the default superannuation market. The Financial Services Council (FSC) recognises the principle that competition policy is in the best interests of consumers is at the core of each of the four models proposed by the Commission. The evidence is clear; competitive markets drive prices lower, improves service quality and encourages product innovation.

The Productivity Commission’s (PC) interim report is an important step towards introducing genuine competition in the default superannuation market. The Financial Services Council (FSC) recognises the principle that competition policy is in the best interests of consumers is at the core of each of the four models proposed by the Commission. The evidence is clear; competitive markets drive prices lower, improves service quality and encourages product innovation. 

The SMSF Association (SMSFA) and Financial Services Council (FSC) were proud to host the Women, Super and Wealth Summit in Sydney today. The Summit brought together a range of thought leaders from across government and financial services, placing the spotlight back on the need to ensure that the gender gap in superannuation is closed so that men and women can both have the opportunity for a secure and dignified retirement.The Summit discussed and debated key issues relating to the causes of the gender gap in superannuation and solutions that can close the gap and improve retirement and wealth outcomes for women.  The gender pay gap, further legislative reform, the need to empower girls and women for financial decision making and broader change to workplace and societal attitudes to women’s work emerged as key themes. 

In case you missed it the annual Financial Services Council Life Insurance Conference was held in Sydney yesterday. The conference presented an opportunity for the industry to come together to explore key developments and emerging issues.It was also an opportunity to reflect on the significant progress the industry has made in the last twelve months, driving key reforms to strengthen the sector and enhance consumer outcomes. This has included remuneration reforms to reduce conflicts of interests and the publishing of the Life Insurance Code of Practice (Code) to raise service standards across life insurance.

More than 45 million people around the world are trapped in some form of modern slavery, according to the 2016 Global Slavery Index. This staggering figure involves a range of exploitative practices including human trafficking, forced labour, wage exploitation, child labour and debt bondage. But how does this relate to us, as investors, and what can we do about it? It’s an important question that was raised recently at a special briefing involving the Financial Services Council (FSC), Responsible Investment Association Australasia (RIAA), the Australian Council of Superannuation Investors (ACSI), Principles for Responsible Investment (PRI) and the Australian Centre for Corporate Responsibility (ACCR).

Frequently Asked Questions (FAQS) about the new FSC website. We know the website is our most important brand touch point. It’s through this channel that we keep our members and our wider audience informed and up-to-date with news, insights and features. It’s important that you can easily access the information you need, from any device and any location, so we’ve developed the site to be mobile responsive with user experiences tailored to whether you’re a member or non-member.

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