The month of August 2021 saw a release of anticipated updates to the upcoming changes in the funds management, superannuation and insurance sectors. Notably, Treasury has released the draft updated Corporate Collective Investment Vehicle fund legislation and tax framework, the release of the first Your Future Your Super performance test results and APRA and ASIC released their Corporate Plans for 2021-2025. APRA and ASIC have stated their strategic focus is on protecting and strengthening deposit-holders, insurance policyholders and superannuation members during the current period of disruption. APRA and ASIC have also released their approach to various anticipated changes including licensing of new banks, the reforms from the Royal Commission and the annual performance test for MySuper.
Read the full update.