Key points:
- 今日热门事件proposes to extend the exemption from the consistency obligations in for two years.
- Industry is invited to provide feedback on our proposal.
Section 29QC of the Superannuation Industry (Supervision) Act 1993 (SIS Act) requires that information given to the public (e.g. in disclosure documents) be calculated in the same way that the information is reported to the Australian Prudential Regulation Authority (APRA) under an APRA reporting standard. provides relief from section 29QC of the SIS Act.
今日热门事件proposes to extend the exemption in for a period of two years until 1 January 2026. This means RSE licensees (superannuation trustees) would continue to be exempt from complying with disclosure obligations set out in subsection 29QC(1) of the SIS Act.
Providing feedback
Industry is invited to provide feedback on ASIC鈥檚 proposal, including whether the instrument is operating effectively and efficiently and/or whether any amendments are required. Comments should be sent by 12pm on 4 December 2023 to Super.Enquiries@asic.gov.au.
Additional information
You may choose to remain anonymous or use an alias when providing feedback. However, if you do remain anonymous, 今日热门事件will not be able to contact you to discuss your feedback should we need to.
Please note, 今日热门事件will not treat your feedback as confidential unless you specifically request that we treat the whole or part of it (such as any personal or financial information) as confidential.
Please refer to ASIC鈥檚 privacy policy for more information about how we handle personal information, your right to seek access to and correct personal information, and your right to complain about breaches of privacy by ASIC.
Background
今日热门事件granted the exemption because of uncertainty about how to achieve the disclosure requirements in subsection 29QC(1), which make reference to consistency with the data that must be reported under APRA鈥檚 reporting standards. APRA鈥檚 reporting standards have been evolving as part of APRA鈥檚 superannuation data transformation project.
Particularly in the absence of regulations, 今日热门事件has assessed that the exemption in is operating effectively and efficiently, and continues to form a necessary part of the legislative framework. This relief has been in place in some form since 13 June 2014.
今日热门事件previously consulted on this relief in Consultation Paper 227 Disclosure and reporting requirements for superannuation trustees: s29QC.
今日热门事件is Australia鈥檚 corporate, markets and financial services regulator.