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Issue 552, 9 December 2014 

In this issue: 

 

Relief from sending product dashboards with member statements extended 

ASIC has provided a further six month’s conditional relief from the requirement that trustees must include product dashboards with members’ periodic statements. 

Disclosure regulations introduced as part of the Stronger Super reforms required a trustee to include with a member’s periodic statement, including an exit statement, the latest product dashboard for the MySuper product or investment option(s) in which the member is invested. 

While this requirement was originally due to commence from 31 December 2013, in Class Order 13/1534, ASIC provided relief so that a trustee would not be required to include the dashboard in a periodic statement for a reporting period ending before 1 January 2015, provided the trustee includes, in either the periodic statement or an accompanying document: 

ASIC has now issued Class Order 14/1217, extending this relief to cover reporting periods ending before 1 July 2015. 

 

ASFA-Veda Data Benchmark: September, 2014 

ASFA recently assisted Veda with the production of the ninth edition (September, 2014) of the ASFA-Veda Data Benchmark (recently renamed from the ASFA-ITM Data Benchmark after ITM was acquired by Veda). The Benchmark was established in 2010 to track industry improvements and highlight the issue of data integrity across a number of areas. 

Key points from the ninth edition include: 

The Benchmark, which is updated twice a year, is available on the ASFA website. 

 

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