Media Releases

Media Release: Intergenerational Report 2026: Superannuation delivering for the future but economic challenges remain for Australia

The Financial Services Council (FSC) welcomes the release of the 2026 Intergenerational Report, which demonstrates the critical role of Australia’s superannuation system, delivering higher retirement incomes for millions of Australians while reducing pressure on future taxpayers via Age Pension spending.

FSC Releases Industry Standard for Private Markets

The Financial Services Council (FSC) has released a new industry standard for the private markets and private credit sectors, designed to strengthen investor confidence and lift industry practices in the growing market.

Media Release: Targeted consumer protection reforms strike the right balance

The Financial Services Council (FSC) welcomes the reform package announced today by the Assistant Treasurer and the Financial Services Minister, The Hon Dr Daniel Mulino MP, which strengthens protections in the superannuation system for consumers while preserving Australians’ ability to exercise their choice of…

Media Release: FSC White Paper calls for stronger supervision of financial advice licensees

The Financial Services Council (FSC) today released its White Paper on the Future of Advice Licensing, concluding that Australia's financial advice licensing framework requires more proactive regulatory supervision to ensure it continues to protect consumers.

Media Release: FSC acknowledges ASIC focus on strengthening superannuation platform governance

The Financial Services Council (FSC) acknowledges ASIC’s report released today on how platform trustees are monitoring risks to retirement savings. The FSC shares ASIC’s goal of uplifting and ensuring robust governance standards across the platform industry.

Media Release: Making active choices about your superannuation leads to better retirement outcomes

The Financial Services Council (FSC) has today released new research showing that empowering consumers to exercise choice over their superannuation, including with the support of personal financial advice, can significantly improve retirement outcomes.

Media Release: FSC supports streamlined approach to foreign investment approvals

The Financial Services Council (FSC) welcomes the Government’s announcement of further reforms to streamline Australia’s foreign investment framework following last week’s Federal Budget.

FSC Fact Sheet – Impact of CGT changes on investors

New FSC analysis demonstrates that the Government’s proposed capital gains tax (CGT) reforms could materially increase taxes on Australians investing outside superannuation, including younger Australians, families, part-time workers and Australians approaching retirement.

Media Release: ‘Bait and switch' Budget raises taxes on all Australian investors

The Financial Services Council (FSC) has significant concerns over the Government’s plan to raise taxes on all Australian investors, across all asset classes, under the guise of increasing equity in the housing market.

Media Release: Changes to superannuation performance test must promote consumers' best financial interests

The Financial Services Council (FSC) supports the options for refinement of the superannuation performance test released for consultation by the Government today that constitute targeted changes, but cautions against fundamental changes that would weaken consumer outcomes, and against expanding the test to products…

Media Release: FSC strengthens superannuation platform investment and adviser governance with new industry standard

The Financial Services Council (FSC) has today released a new industry standard that will strengthen investment and adviser governance practices across superannuation platforms, enhancing consumer protections and providing greater consistency across the platform sector.

Media Release: Digital advice helping Australians take control of retirement planning

The Financial Services Council (FSC) has released new research highlighting the growing role of digital advice in improving access to financial guidance and supporting better retirement outcomes.

Media Release: FSC Board appointments

The Financial Services Council (FSC) today announces a new Deputy Chair, new Board appointments, and acknowledges the significant contribution of departing Director and outgoing Deputy Chair, Alexis George.

Media Release: Consumers using superannuation platforms are advised, higher-balance, new data confirms

Data released today by the Financial Services Council (FSC) shows Australians choosing to switch to a superannuation platform from a default superannuation fund are typically older investors with higher balances, who have received professional financial advice, disproving recent claims made by the Super Members…

Media Release: FSC welcomes consultation on reforms to financial adviser education requirements

The Financial Services Council (FSC) welcomes the Government’s much anticipated consultation on implementing reforms to the education requirements for professional financial advisers, announced today by the Assistant Treasurer and Minister for Financial Services, Dr Daniel Mulino.

Media Release: Government recognises that best practice retirement offering is not "one size fits all"

The Financial Services Council (FSC) welcomes the Government’s release of the voluntary retirement Best Practice Principles (the Principles), reinforcing that superannuation funds must actively engage members approaching and in retirement and that “a one-size-fits-all approach will not work”.

Media Release: Sensible changes considered to the treatment of stamp duty disclosure for superannuation

The Financial Services Council (FSC) welcomes ASIC’s consultation on the treatment of stamp duty under Regulatory Guide 97, (RG 97) disclosing fees and costs in PDSs and periodic statements.

Media Release: CSLR levy estimate underscores urgency of needed reform

The Financial Services Council (FSC) has called for the cost of the Compensation Scheme of Last Resort (CSLR) to be brought to sustainable levels following the announcement that the initial levy estimate for FY2027 is $137.5 million, an 82 per cent increase from the revised estimate for FY2026.

Media Release: Superannuation funds continue to fight cyber and financial crime to protect consumers

The superannuation industry continues to band together to fight against cyber criminals and scammers, affirming its commitment with two cross-industry forums that foster collaboration, share critical threat intelligence, and drive action to better protect consumers’ data and financial security.

Media Release: FSC recognises ASIC's collaborative approach to improving Australia's capital markets

The Financial Services Council (FSC) welcomes ASIC’s Advancing Australia’s Evolving Capital Markets Discussion Paper Response Report and its ongoing constructive engagement with industry on these significant issues.

Media Release: FSC welcomes Government commitment to modernise foreign investment framework

The Financial Services Council welcomes the Government’s commitment to streamline the foreign investment framework, which will reduce unnecessary red tape for trusted institutions engaging in lower risk investment activity, while focusing scrutiny for higher-risk transactions.

Media Release: FSC supports new consultative direction on superannuation tax changes

The Financial Services Council (FSC) welcomes the Treasurer’s announcements today that the Government has revised its policy proposal in relation to taxing high superannuation balances and that it will also boost the low-income superannuation tax offset (LISTO).

Media Release: FSC welcomes introduction of Payday Superannuation Bill

The Financial Services Council (FSC) welcomes the introduction of the Payday Superannuation Bill to parliament today, which will ensure that Australians start earning returns on their retirement savings sooner, but also provides flexibility for employers to move to full compliance.

Media Release: FSC developing best practice principles for superannuation platform investment governance

The Financial Services Council (FSC) welcomes the Government’s recognition of the industry’s work to promote best practice investment governance and increase consumer protections in the superannuation platforms sector.

Media Release: FSC to lead industry best practice on private credit transparency and governance

The Financial Services Council (FSC) welcomes the findings in ASIC’s interim report on private credit in Australia, which highlights both the important role private capital plays in financing innovation and growth, and the need to strengthen industry practices.

Media Release: Two new directors appointed to FSC Board

The Financial Services Council (FSC) is pleased to announce the appointments of two senior industry leaders, Scott Hartley, Chief Executive Officer of Insignia Financial, and Daniel Shrimski, Managing Director of Vanguard Australia, as directors to the FSC Board.

Media Release: Retirement policy should prioritise individual outcomes

The Financial Services Council (FSC) welcomes the Government’s consultations related to Best Practice Principles for Retirement and the Reporting Framework for Retirement Data. The two consultations are an important step forward in improving retirement outcomes for Australians, but the FSC urges the Government to…

Media Release: FSC Media Statement on Compensation Scheme of Last Resort Special Levy Treasury Consultation

The Financial Services Council (FSC) welcomes the careful and consultative approach the Assistant Treasurer Dr Daniel Mulino has taken with the Treasury consultation released today in considering how to exercise his discretion to impose a special levy to meet the significant funding shortfall in the costs of the…

Media Release: Green Paper explores opportunities to modernise the financial advice licensing framework

The Financial Services Council (FSC) today releases a Green Paper examining the case for reforming Australia’s financial advice licensing framework to better protect consumers, support a diverse and professional advice sector, and ensure the regulatory model remains fit for purpose in a changing environment.

Media Release: New analysis of the impact of proposed superannuation tax

The Financial Services Council (FSC) has released new data that shows the full impact of the proposed superannuation tax on different age cohorts of Australians under four different scenarios.

Media Release: Best Practice Superannuation Framework for Empowering Consumers for retirement

The Financial Services Council (FSC) today releases a best practice framework showing how superannuation funds can strengthen their product, service and engagement offering across all stages of a customer’s life.

Media Release: FSC welcomes new Assistant Treasurer

The Financial Services Council (FSC) congratulates the new Albanese Government Ministry on their appointments and to the new Assistant Treasurer and Financial Services Minister.

Media Release: ‘No Surprises’ Federal Budget for Financial Services Industry

The FSC welcomes the 2025-26 ‘no surprises’ Federal Budget which reinforces stability and provides certainty for the financial services industry and its consumers on the eve of the federal election.

Media Release: FSC Statement on Financial Advice Reforms

The Financial Services Council (FSC) welcomes the release of the Government’s exposure draft legislation covering part of the second tranche of the Delivering Better Financial Outcomes package.

Joint Statement: Australia’s future prosperity relies on climate policy certainty

Today, business and finance groups have come together to endorse Australia’s continued bipartisan commitment to the Paris Agreement goals and call for all levels of government to continue to support Australia’s transition to a clean, competitive, resilient and prosperous net zero economy.

Media Release: Millions wasted on reporting trivial breaches

The Financial Services Council (FSC) welcomes ASIC’s proposal that financial services businesses no longer need to report minor or technical breaches that do not cause financial loss to consumers under certain circumstances, but more needs to be done.

Media Release: National Poll shows Australians do not trust politicians on superannuation taxes

Australians overwhelmingly distrust the Albanese Government on superannuation taxes and are undecided on whether they can trust the Opposition, a new nationwide poll has found.

Media Release: FSC Statement on Treasury review of the CSLR

The Financial Services Council (FSC) welcomes the Government’s announcement that the Treasury will undertake a review into the Compensation Scheme of Last Resort (CSLR).

Media Release: FSC Statement on Retirement of Assistant Treasurer

The Financial Services Council (FSC) extends its congratulations to the Assistant Treasurer and Financial Services Minister Stephen Jones following the announcement of his retirement.

Media Release: Financial Services industry calls for economic growth agenda

The financial services industry is calling on both sides of politics to commit to an economic growth agenda, an evidence-based tax review, and to form a red tape razor gang responsible for slashing inefficient regulation to lift Australia out of its economic malaise.

Media Release: FSC Statement on Advice Reforms

The Financial Services Council (FSC) welcomes the Government’s policy announcement today on tranche two of its Delivering Better Financial Outcomes package.

Media Release: Results of the 2024 Women in Investment Management Survey

The Financial Services Council (FSC) has released the results of its 2024 Women in Investment Management Survey.

Media Release: Reforms a positive step but retirement is personal

The Financial Services Council (FSC) welcomes the Government’s response to the retirement phase consultation.

Media Release: FSC welcomes payday super

The Financial Services Council (FSC) welcomes the Government’s response to the payday superannuation consultation, which includes requiring employers to pay their employees superannuation at the same time as their salary and wages from 1 July 2026.

Media Release: Investment community welcomes climate disclosure legislation

The Financial Services Council (FSC) congratulates the Government on the passage of its climate disclosure regime legislation in Parliament today.

Media Release: A step closer to bridging the retirement savings gender gap

The Financial Services Council (FSC) congratulates the Government for acting on its commitment to pay the Super Guarantee on Government paid parental leave from 1 July 2025, with legislation being introduced to Parliament today.

Media Release: Australians with complex financial advice needs require fit-for-purpose regulatory framework

The number of Australians with complex financial advice needs will grow by 70 per cent in 25 years – from 4.3 million to 7.2 million, however regulatory design has favoured default settings and ignored Australian consumers requiring more complex and personalised financial advice.

Media Release: FSC welcomes amendments to financial advice bill

The Financial Services Council (FSC) welcomes the Government’s amendments to remove the s99FA(1)(a) and (b) provisions in tranche 1 of its Delivering Better Financial Outcomes Bill.

Media Release: FSC Superannuation members lead the way in protecting consumers from scams and fraud

The Financial Services Council (FSC) and its superannuation funds members are spearheading the fight against fraud and scams following the release of a Standard that aims to protect consumers from financial harm.

Media Release: Sustainable Finance Roadmap gives certainty to investment community

The Financial Services Council (FSC) welcomes the release of the Government’s Sustainable Finance Roadmap, which will provide greater confidence and certainty for investors managing climate-related investment risks and opportunities and in bringing sustainability-related investment products to market.

Media Release: Budget leans into long term plan for Financial Services

The Financial Services Council (FSC) welcomes the Government focusing on its long term plan for financial services and the investment community with its ‘no surprises’ Budget for the financial services sector.

Media Release: FSC launches voice for digital advice

The Financial Services Council (FSC) is pleased to announce the formation of the Digital Advice Expert Group.

Media Release: FSC appoints new Directors and expands Financial Advice representation

The Financial Services Council (FSC) is pleased to announce the appointment of four new directors to the FSC Board, two sourced from our funds management membership, and two sourced from a new, expanded membership cohort of financial advice businesses.

Media Release: Climate-related financial disclosure enhances Australian investment

The Financial Services Council (FSC) welcomes the Government progressing the climate-related financial disclosures regime with the Treasurer’s introduction into Parliament of the Treasury Laws Amendment (Financial Market Infrastructure and other measures) Bill.

Media Statement from Joint Associations Working Group: Still time to fix advice reforms so "hot mess" doesn't turn into disaster

The Joint Associations Working Group (JAWG) is calling on the Government to move swiftly to fix legislation introduced into the Parliament so that it doesn’t make advice more unaffordable and less accessible for consumers.

Media Release: Financial Advice Reform Bill

The Financial Services Council (FSC) notes the Government’s introduction of tranche one of its Delivering Better Financial Outcomes reform package on financial advice into Parliament today.

Media Release: Closing the retirement savings gender gap

The Financial Services Council (FSC) welcomes the Government’s commitment to pay the Super Guarantee on Government paid parental leave from 1 July 2025.

Media Release: Australians agree with proposed objective of Superannuation

The majority of Australians believe superannuation should be about preserving savings to deliver income for a dignified retirement, according to a national poll of more than 2500 people.

Media Release: Australians want to make their own decisions about their retirement savings

Australians want control over how they spend and enjoy their retirement and do not trust the Government to direct how their superannuation savings should be consumed, a new nation-wide poll has revealed.

Media Release: Fine-Tuning of Investor Test Required to Protect Consumers

New research released today by the Financial Services Council (FSC) has revealed that in less than a decade, almost a fifth of Australian households would be eligible to buy wholesale products without retail consumer protections, leaving them potentially vulnerable due to not properly understanding the associated…

Media Release: Reforms to Reduce the Cost of Providing Financial Advice

The Financial Services Council (FSC) welcomes the Government’s comprehensive framework to deliver on its commitment to make financial advice more accessible and affordable for millions of Australians.

Media Release: Financial Services Council releases results of 2023 funds management gender diversity survey

The Financial Services Council (FSC) has released the results of its 2023 Diversity Survey, highlighting the commitment of its global and domestic fund manager members to improve gender diversity within the investment management sector.

Media Release: FSC Statement on Performance Test Review

The Financial Services Council (FSC) notes the Government’s decision to consult on whether to reform the Your Future, Your Super performance test to avoid discouraging superannuation fund investment decisions away from investments that would strengthen the national economy.

Media Release: Government can Improve Retirement Outcomes by $16 Billion with Product Modernisation Framework

New research released today by the Financial Services Council (FSC) shows that removing barriers for superannuation funds and fund managers to transition consumers to modern investment products would result in consumers retiring with cumulatively $16 billion more by 2050, lifting their collective retirement income by…

Media Release: State of the Funds Management Industry Report 2023

The Financial Services Council (FSC) is today pleased to launch the State of the Funds Management Industry Report prepared by KPMG, which lifts the lid on the regulatory and tax policy settings that are limiting Australia’s funds management industry becoming a major global financial services centre.

Media Release: The Hon Peter Costello headlines FSC Trans-Tasman Leaders Summit

The Financial Services Councils of Australia and New Zealand are delighted to announce the Hon Peter Costello AC will headline the first ever Trans-Tasman Strategic Leaders Summit, being held on 4-6 March 2024 in Auckland.

Media Release: Transition of Life Insurance Code of Practice

The Financial Services Council (FSC) is pleased to announce responsibility for the Life Insurance Code of Practice (Life Code) will transition to the Council of Australian Life Insurers (CALI) effective, 29 September 2023.

Media Release: SUPER EARLY BIRD TICKETS RELEASED FOR FSC TRANS-TASMAN STRATEGIC LEADERS SUMMIT

The Financial Services Councils of Australia and New Zealand are delighted to announce the release of super early bird tickets for the first ever Trans-Tasman Strategic Leaders Summit, being held on 4-6 March 2024 in Auckland.

Media Release: FSC announces two board appointments

The Financial Services Council (FSC) announces the appointment of two senior industry leaders, Alexis George, Chief Executive Officer, AMP and Matt Rady, Chief Executive Officer of BT Financial Group, to the FSC Board.

Media Release: Consumers should seek financial advice on superannuation performance test results

The Financial Services Council (FSC) has welcomed the release of today’s Performance Test results for MySuper and Trustee Directed Products.

Media Release: Superannuation delivering on its promise to Australians

The Financial Services Council (FSC) welcomes the Government's announcement to strengthen the accessibility of retirement products to help Australians make the most of their superannuation savings as part of releasing the 2023 Intergenerational Report.

Media Release: Consumers to benefit from enhanced services standards and protections from 1 July

The Financial Services Council (FSC) welcomes important changes to financial services products, superannuation funds and life insurance policies that come into effect on 1 July 2023.

Media Release: Consumers must seek financial advice before making financial decisions based on Government’s performance test notifications

The Financial Services Council (FSC) today cautioned consumers to seek financial advice before acting on performance test notifications for superannuation products, as defective Government regulations risk failing to address methodological issues built into the test for the new class of trustee-directed products. [1]

Media Release: GOVERNMENT COMMITS TO REDUCE FINANCIAL ADVICE RED TAPE

The Financial Services Council (FSC) has welcomed the Government’s response to the Quality of Advice Review and its commitment to prioritise ‘Stream One’ of its reforms, which are designed to remove costly red tape imposed on financial advisers.

Media Release: FSC promotes regulatory best practice on Design and Distribution Obligations

The Financial Services Council (FSC) is building on promoting best regulatory practice across the funds management industry in the interest of consumers with the release today of an updated template Target Market Determination (TMD) for funds management.

Media Release: New consumer resources released to support Life Code

The Financial Services Council (FSC) is proud to announce the upcoming implementation of the New Life Code of Practice (new Life Code) on 1 July 2023, which will introduce over 50 comprehensive consumer protections that will change the way customers interact with their life insurers.

Media Release: Industry first Trans-Tasman Summit announced

The Financial Services Councils of Australia and New Zealand are pleased to announce the first ever Trans-Tasman Strategic Leaders Summit for the financial sector, to be held on 5-7 March 2024 in Auckland.

Media Release: FSC appoints new board member

The Financial Services Council (FSC) is pleased to announce the appointment of Kelly Power, Chief Executive Officer of Colonial First State Superannuation, to the FSC Board.

Media Release: FSC welcomes disciplined Federal Budget

The Financial Services Council (FSC) welcomes the disciplined Budget position, with spending constraint delivering a $4.2 billion surplus built on a solid domestic economy.

Media Release: FSC welcomes aligning superannuation payment 'same day' as wages

Today’s announcement by the Government to increase the frequency of superannuation guarantee payments to align with wage and salary cycles is a welcome outcome that will benefit Australian consumers.

Media Release: Retirement policy key to sustainable superannuation system

New research released today by the Financial Services Council (FSC) shows policy reform focused on improving how Australians spend their superannuation savings would boost retirement incomes by 10 per cent each year, or by $397 billion by 2050.

Media Release: Your Future, Your Super Review puts customers first

The Financial Services Council (FSC) welcomes the Government’s release of the wide-ranging review undertaken by the Treasury of the Your Future, Your Super (YFYS) laws and its accompanying policy response.

FSC Media Statement on the Managed Investment Schemes Review

The Financial Services Council (FSC) welcomes the Review of the Regulatory Framework for Managed Investment Schemes (MIS Review).

Media Release: FSC welcomes finalisation of the Compensation Scheme of Last Resort and Financial Accountability Regime

The Financial Services Council (FSC) welcomes the introduction of the Compensation Scheme of Last Resort (CSLR) and the Financial Accountability Regime (FAR) Legislation into Parliament today, reflecting the Government’s focus on finalising the remaining pieces of the Royal Commission into the Banking, Superannuation…

MEDIA RELEASE: DISTRIBUTIONAL ANALYSIS OF AN UNINDEXED $3 MILLION SUPERANNUATION BALANCE CAP

New analysis of ATO data from the Financial Services Council (FSC) today shows over 500,000 current taxpayers will be adversely impacted by the Government’s proposed 30 per cent tax rate on balances above $3 million.

Media Statement: Government tax changes to superannuation

The Financial Services Council (FSC) notes the certainty of today’s Government announcement to tax superannuation balances over $3 million but warns there are still important details to be resolved.

Media Release: Shared objective for superannuation one step closer

The Financial Services Council (FSC) welcomes the Federal Government prioritising public consultation on a proposed definition of the objective for the superannuation system.

Media Release: Advice review final report provides the blueprint to meet consumers' advice needs

The Quality of Advice Review’s final report released today by the Government lays a strong foundation to ensure many more Australians get the financial advice they need.

Media Release: Australians want superannuation to be about their retirement

The Financial Services Council (FSC) has today released consumer research which found strong support for legislating an objective for superannuation, providing it focuses on delivering retirement income for all Australians.

Media Release: Release of FSC Standard on claims handling for superannuation funds

The Financial Services Council has released an enforceable standard for handling group life insurance claims in superannuation.

Media Release: FSC welcomes climate disclosure regime consultation

The Financial Services Council welcomes the Federal Government consultation on a mandatory climate-related financial disclosure regime as well as the Government’s commitment to a Sustainable Finance Agenda.

Media Release: Two million more Australians better off under Quality of Advice Reforms

The FSC has today released research that shows implementing the Quality of Advice Review’s proposals would help an additional two million retirees spend $22.5 billion more and leave $6 billion less in bequests annually by the year 2040.

Media Release: Gender diversity a priority for fund managers

Improving gender diversity in the funds management industry is a key focus for fund managers, the 2022 Financial Services Council (FSC) Diversity Survey has found.

Media Release: Government urged to deliver affordable and accessible financial advice

The Financial Services Council (FSC) has today called for the implementation of the Quality of Advice Review proposals paper and flagged additional changes to ensure the cost of providing advice is reduced.

Media Release: FSC welcomes 2022-23 Budget

The 2022-2023 Federal Budget has delivered on the Government’s promise to implement its election commitments.

Media Release: Additional consumer protections to be included in FSC life insurance code of practice

The Financial Services Council has today announced further consumer protections will be included in the new Life Insurance Code of Practice with the first life insurance industry-wide guidelines on family and domestic violence as well as new protections in the genetics moratorium.

Media Release: Good advice would see a million more Australians with the life insurance they need

New research released today by the Financial Services Council (FSC) shows the combined effect of simplification of comprehensive advice and the introduction of a scalable advice model for life insurance would see a million more Australians have the life insurance cover they need.

Media Release: Piecemeal superannuation taxes will not fix budget structural deficit

New research released by the Financial Services Council (FSC) demonstrates that proposed piecemeal increases to superannuation taxes will not deliver a sustainable Federal Budget position.

Op-ed: Fact not conjecture should determine Australia’s approach to immigration

This article was published in the Australian newspaper, Tuesday, 20 September 2022

Media Release: A path to affordable financial advice

The Financial Services Council (FSC) welcomes the Quality of Advice Review consultation paper as it identifies a way forward to make quality advice accessible to more Australians.

Media Release: Climate Change Bill a welcome first step

The Financial Services Council (FSC) has outlined the importance of policy certainty for Australia’s investment community provided by the Government’s Climate Change Bill 2022 but says more needs to be done.

Media Release: Investment community acts on climate change

The Financial Services Council (FSC) and its fund management members are leading the transition to a lower emissions economy following the release of guidelines that will help combat climate change and greenwashing.

Media Release: FSC announces two new board appointments

The Financial Services Council (FSC) announces the appointment of Renato Mota, Chief Executive Officer of Insignia Financial and Alison Telfer, Country Head for Asset Management Australia and New Zealand of UBS Asset Management, as directors to the FSC Board.

Media Release: FSC welcomes review into Your Future, Your Super

The Financial Services Council (FSC) welcomes the Government’s decision to pause the extension of the Your Future, Your Super (YFYS) performance test beyond MySuper products for 12 months, and to review the YFYS laws.

Media Release: Superannuation funds show the way forward to retirement

Millions of Australians can look forward to a brighter financial future in retirement with the superannuation system’s Retirement Income Covenant coming into effect tomorrow, 1 July 2022.

Media Release: More consumer protections for life insurance customers

The Financial Services Council (FSC) and the life insurance industry have today published the new Life Insurance Code of Practice (the Life Code).

Media Release: Associations united in response to Quality of Advice Review

The Joint Associations Working Group (JAWG) has collaborated to lodge a submission to Treasury’s Quality of Advice Review calling for a more consumer-focused regulatory approach, reduced costs, and greater recognition of professional judgement.

MEDIA RELEASE: FIRST HOME BUYERS SHOULD NOT BE FORCED TO CHOOSE BETWEEN A HOME AND THEIR RETIREMENT SAVINGS

The Morrison Government’s announcement to allow access to superannuation for first home buyers to fund a deposit will undermine the purpose of the superannuation system and could force up to 5.3 million young Australians to decide between owning a home or their retirement savings.

MEDIA RELEASE: FSC releases guidance on divesting Russian assets

The Financial Services Council (FSC) has today released guidance to assist superannuation trustees and fund managers with divestment of Russian assets.

MEDIA RELEASE: FSC announces new CEO

Following the completion of its executive search process, the Financial Services Council (FSC) Board has appointed Blake Briggs as Chief Executive Officer (CEO).

MEDIA RELEASE: Federal budget strong for Australian retirees

Tonight’s Federal Budget delivers important support for Australian retirees who are facing challenging increases in the cost of living.

MEDIA RELEASE: FSC welcomes commitment to stability in superannuation

The Financial Services Council (FSC) has welcomed the Government’s commitment to extend the 50 per cent reduction in the minimum draw down requirements for another financial year until 30 June 2023, as well as its pledge to not increase taxes on superannuation in the next parliament.

MEDIA RELEASE: FSC releases pre-election policy priorities for financial services

The Financial Services Council (FSC) has announced its policy priorities for the next parliament ahead of the Federal Election.

MEDIA RELEASE: Superannuation industry response on Ukraine crisis

The Financial Services Council (FSC) supports the Federal Government’s expectation that the superannuation industry divests Russian assets as part of broader global economic sanctions to address the humanitarian crisis in Ukraine.

MEDIA RELEASE: New data shows how genetics Moratorium for life insurance works for Australians

The FSC has today released findings of the genetic testing data collected by the life insurance industry to give Australian’s confidence that the FSC’s Moratorium on genetic test means they can access a level of life insurance cover and still participate in important genomic research.

MEDIA RELEASE: FSC welcomes new appointment to Board

The Financial Services Council (FSC) welcomes Nick Hamilton, Managing Director and Chief Executive Officer of Challenger Limited as a director to the FSC Board.

MEDIA RELEASE: FSC welcomes Retirement Income Covenant and Corporate Collective Investment Vehicle

The Financial Services Council (FSC) welcomes the passage of legislation with bi-partisan support to implement a Corporate Collective Investment Vehicle (CCIV) and the Retirement Income Covenant.

MEDIA RELEASE: FSC welcomes bipartisan support for Retirement Income Covenant and Corporate Collective Investment Vehicle

The Financial Services Council (FSC) welcomes the release of a Senate Inquiry report confirming bipartisan support for the Corporate Collective Investment Vehicle (CCIV) and the Retirement Income Covenant.

MEDIA RELEASE: FSC welcomes new proxy advice regulations

The Financial Services Council (FSC) welcomes the Government’s announcement to regulate proxy advice, and supports the Government’s aim of ensuring that the provision of proxy advice to superannuation funds and fund managers is transparent and independent.

MEDIA RELEASE: Superannuation heatmaps underscore importance of consumer engagement and financial advice

The release of the Australian Prudential Regulation Authority’s (APRA) heat maps for MySuper and ‘choice’ investment products today underscores the importance of ensuring consumers can access affordable financial advice that considers their investment and life insurance needs.

MEDIA RELEASE: FSC announces acting CEO

The Financial Services Council (FSC) today announces the appointment of Blake Briggs as Acting CEO of the FSC, as outgoing CEO Sally Loane steps down after seven years leading the financial services industry association.

MEDIA RELEASE: Release of FSC Standard Prohibiting Occupational Exclusions

The Financial Services Council (FSC) has released an enforceable Standard which will remove occupational exclusions and occupation based restrictive disability definitions in default life insurance cover in superannuation.

MEDIA RELEASE: FSC welcomes two new appointments to the Board

The Financial Services Council (FSC) welcomes Scott Hartley, CEO AMP Australian Wealth Management and Michelle Taylor, Chief Executive, People, Corporate Affairs and Strategy for Challenger Ltd as Directors to the FSC Board.

MEDIA RELEASE: Retirement income covenant and corporate collective investment vehicle bill a milestone for financial services

The Financial Services Council (FSC) welcomes the introduction of legislation today to implement the Corporate Collective Investment Vehicle (CCIV) and the Retirement Income Covenant.

MEDIA RELEASE: FSC welcomes new appointment to Board

The Financial Services Council (FSC) welcomes Nick Fels, Chief Executive Officer of Bell Asset Management Ltd as a Director to the FSC Board.

MEDIA RELEASE: Sally Loane to step down as CEO of the Financial Services Council

The Financial Services Council (FSC) Chief Executive Officer Sally Loane has announced that she will leave at the end of the year, after seven years at the helm of the policy and advocacy organisation.

MEDIA RELEASE: FSC launches white paper on financial advice

The Financial Services Council (FSC) has today released the White Paper on Financial Advice, a blueprint for a simplified regulatory framework that could reduce the cost of providing financial advice by almost $2,000, or up to 37 per cent.

MEDIA RELEASE: FSC to ban occupational exclusions in default group life insurance in superannuation

The Financial Services Council (FSC) has today announced it will be introducing an enforceable FSC Standard to prohibit the use of exclusions and restrictive disability definitions because a member is employed in a high-risk occupation.

MEDIA RELEASE: Financial Services implementing major regulatory changes

The financial services industry is this week implementing one of the most significant and wide-ranging set of reforms ever for the sector.

MEDIA RELEASE: Compensation scheme fails to prevent source of unpaid determinations

The Financial Services Council (FSC) has urged the Government to amend the proposed Compensation Scheme of Last Resort (CSLR) to prevent the “moral hazard” of shifting costs onto companies and consumers who have done nothing wrong.

2019 Media Releases