Welcome to Issue 29 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry.  Firstly, the FSC has announced its support for the Government's temporary crisis measures regarding superannuation, announced by the Prime Minister and Treasurer yesterday (Sunday) here. Please see our media release here. Please see Treasury fact sheets of details on eligibility criteria for temporary early access to superannuation here, and temporary reduction of pension drawdown and reduction of social security deeming rates here. We have also written to the Treasurer, Josh Frydenberg and the Assistant Minister for Superannuation and Financial Services, Senator Jane Hume, seeking urgent relief and waiver for a number of regulatory and legislative initiatives as our members prioritise the operations of their businesses and focus on assisting their customers and clients during this time of national crisis. This request is in direct response to a note issued last week by the Council of Financial Regulators here where the Council stated that regulators were standing ready to deal with problems firms may encounter in complying with the law due to the impact of COVID-19. Read more

In response to our uncertain times, the FSC has made the decision to postpone a number of upcoming events. Read more

Welcome to Issue 28 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. In this issue, the FSC team analyses Life Code 2.0, the ASIC investigation related to the end of grandfathered commissions and draft legislation on improving flexibility for older Australians. Read more

Last week, the annual FSC Member Drinks took place at the beautiful offices of our event host partner EY.  Read more

Welcome to Issue 27 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. In this issue, the FSC team analyses a number of Royal Commission recommendations (and proposed legislation to implement them), Modern Slavery and the Retirement Income Review. Read more

Welcome to Issue 26 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. In this issue, the FSC team analyses Royal Commission Exposure Draft legislation, the Compensation Scheme of Last Resort (CSLR) and the Financial Accountability Regime (FAR). Read more