Asic is particularly interested in the conduct of

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Unformatted text preview: erned that consumers get ■ examining data held on its own systems. appropriate advice about the relative costs and benefits of establishing a self managed superannuation fund, that they are aware of the time and skills required of a trustee, and FINANCIAL ADVISERS SWITCHING ADVICE that they have sufficient funds to justify the establishment and ongoing costs of a self managed superannuation fund. ASIC is particularly interested in the conduct of accountants in relation to self managed superannuation ASIC wants to ensure all employees get appropriate advice about their superannuation. It is particularly concerned that those employees who already have a superannuation fund are not mis-sold or ‘churned’ into funds. If they are not licensed to give financial advice, accountants are able to give only limited advice about the establishment and structure of a self managed superannuation fund. new superannuation funds, where they would be as well off, or better off, staying in their current fund. Because the introduction of choice of superannuation fund could potentially give rise to mis-selling and significant consumer detriment, ASIC will focus on the quality of advice in the following circumstances: CHOICE OF SUPERANNUATION FUND ■ 25 26 ■ CHOICE OF SUPERANNUATION FUND 06 more information CHOICE OF SUPERANNUATION FUND ■ 27 06 more information WHERE TO GET MORE INFORMATION If you want to provide information about tax evasion or early access to superannuation schemes The Tax Office, ASIC, APRA and the Superannuation The Tax Office website has a link for reporting tax evasion Complaints Tribunal have different responsibilities for choice and avoidance. It explains what tax evasion is and of superannuation fund. This section is designed to help you provides details about other questions you might have. identify which organisation can help with your enquiry. You can anonymously report information about tax evasion A good starting point for employees, employers and to the Tax Of...
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