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More time at home means many Australians now have the opportunity to re-assess their lifestyle and spending habits and set some serious saving goals. So how can you actually go about it?

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In this episode of The nestegg Podcast, host Grace Ormsby is joined by Melbourne-based Reventon’s Billie Christofi to talk all things finance and the impact of isolation on our hip pockets.

In stage 4 lockdown, Billie shares the importance of going back to basics when it comes to budgeting, methods to re-assess spending habits, and some of the less conventional ways people can boost their wealth at this time.

Thanks Billie, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on an upcoming episode!

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Retirement

Corporate regulators back superannuation reform

By Grace Ormsby

February 14 2020
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Retirement

Corporate regulators back superannuation reform

By Grace Ormsby
February 14 2020

ASIC and APRA have joined forces to praise legislative reform proposals around superannuation.

Corporate regulators back superannuation reform

By Grace Ormsby

February 14 2020
Share

ASIC and APRA have joined forces to praise legislative reform proposals around superannuation.

According to the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA), the proposed reforms unveiled last month by the Treasurer would introduce “important reforms that will support ASIC and APRA to carry out their roles as co-regulators in superannuation”.

The proposed reforms include expanding ASIC’s role as conduct regulator in the superannuation space while retaining APRA’s role as prudential and member-outcomes regulator.

According to ASIC and APRA, the legislation will see enhancement in “the close co-operation and collaboration between the two regulators”.

In welcoming the reform, ASIC commissioner Danielle Press indicated that both ASIC and APRA “have a shared commitment to improving the fitness of the superannuation system for Australians, and we strongly support these reforms”.

She said the reforms will strengthen ASIC’s ability to effectively regulate superannuation trustee conduct and focus on consumer protection in its regulation of superannuation.

“All trustees have an interest in a robust regulatory system without gaps in member protection,” Ms Press outlined.

“We want to assure trustees that ASIC and APRA will work together to ensure the new regime is effective and to reduce duplication of regulatory effort.”

Weighing in on the proposal, APRA deputy chair Helen Rowell said the organisation “welcomes ASIC having an expanded role in regulating a sector that is growing ever more integral to financial outcomes for Australians and the broader economy”.

She said ASIC has a critical role to play in tackling misconduct in superannuation, “while APRA will continue to strengthen its focus on member-outcomes and prudential soundness”.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

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