Outgoing Australian Compliance Institute CEO Naomi Burley and Strategic and Engagement Consultant Carole Ferguson discuss the requirements of consolidating multiple member superannuation accounts under the SIS(ACT)through the lens of the Australian Securities and Investments Commission (ASIC)action against AustralianSuper.

Resources

ASIC sues AustralianSuper over multiple superannuation accounts: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-249mr-asic-sues-australiansuper-over-multiple-superannuation-accounts/

ASIC v AustralianSuper Concise Statement: https://download.asic.gov.au/media/tv1d2sli/23-249mr-concise-statement.pdf

ASIC warns super trustees to boost efforts to consolidate duplicate member accounts : https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-175mr-asic-warns-super-trustees-to-boost-efforts-to-consolidate-duplicate-member-accounts/