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Compensation Scheme of Last Resort (CSLR) update
On 25 November 2021, the Senate referred the Financial Accountability Regime and CSLR legislation to the Economics Legislation Committee (Committee) for inquiry and report by 15 February 2022.
Superannuation fund holdings for Russian assets
On the 3rd of March 2022, the Federal Government confirmed its strong expectation that Australian superannuation funds will review their investment portfolios and take steps to divest any holdings in Russian assets.
Foreign Financial Services Provider regime update
The revised Foreign Financial Services Provider Bill was introduced on 17 February 2022 in the House of Representatives.
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.