Choice of superannuation fund 29 data matching this

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: tes Locked Bag 3060 superannuation contributions to the employee’s fund on GPO Melbourne VIC 3001 behalf of the employer. Comparative advertising Advertising by one party which compares a superannuation fund or advisory service with one or more other superannuation funds or advisory servicers. Complying superannuation fund This is a fund that meets certain regulatory requirements Note: See section 42 of the Superannuation Industry (Supervision) Act 1993 for an exact definition. CHOICE OF SUPERANNUATION FUND ■ 29 Data matching This involves obtaining data from external sources and Financial products also specifically include: ■ interests in a managed investment scheme matching it against Tax Office data to identify non- ■ derivatives compliance. ■ general insurance ■ life insurance Dealing ‘Dealing’ captures a very wide range of conduct associated ■ superannuation ■ basic deposit products, and with financial products. This includes applying for or acquiring a financial product and issuing, varying or ■ retirement savings accounts. disposing of a financial product on another person’s Note: see Division 3 of Part 7.1 of the Corporations Act for behalf. Dealing also includes ‘arranging’ for a person an exact definition. to engage in any such conduct, and captures conduct by which a person negotiates for, or brings into effect, a Financial services guide dealing in a financial product. A document that explains the nature of financial services being offered by an Australian financial services licence Defined benefit fund holder, the fees charged and how the person providing the A type of fund that provides benefits for members in service deals with customer complaints. accordance with a set formula that is contained in the Note: see section 761A of the Corporations Act for an governing rules of a superannuation fund. exact definition. Eligible employees ‘From’ fund Employees who are entitled to choose which In terms of switching superannuation funds, the superannuation fund will receive their employer ‘from’ fund is the fund in which someone...
View Full Document

This note was uploaded on 03/25/2014 for the course FOBE 302 taught by Professor X during the One '13 term at Macquarie.

Ask a homework question - tutors are online