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Superannuation, Funds Management & Financial Services

Through actual superannuation fund board experience, we are conscious of the need for our input to add real value.

Superannuation, Funds Management & Financial Services

Our team is among the most experienced in Australia. Our lawyers have experience across the financial services spectrum, including in relation to managed funds, superannuation, insurance, custody, registry and administration. Our deep understanding of the sector means we can deliver advice that is timely, practical and cost-effective, because we can anticipate not only the regulatory and technical issues that may arise, but also be mindful of the political and competitive environment.

Expertise

  • compliance and regulatory issues
  • trust deed and constitution interpretation, reviews and amendments
  • governance issues, including director and trustee duties
  • fund establishments, restructures, mergers, rationalisations and closures, including successor fund transfers and transfers and amalgamations of life insurance business
  • acquisitions and disposals
  • insurance policy review, policy drafting and negotiation, and takeover arrangements
  • insurance claims and disputes, including death benefit allocations, total and permanent disability benefit claims, Superannuation Complaints Tribunal complaints and superannuation-related litigation
  • financial product development
  • financial advice and product distribution
  • investment, including direct investments, derivatives trading, infrastructure and property funds
  • communications and disclosures, including product disclosure statements, prospectuses, and periodic disclosure
  • licensing
  • breach reporting and other liaison with regulators regarding audits and investigations, compliance issues and queries.

Experience

  • successor fund transfers involving Ausfund, Club Super, Concept One, Harwood Superannuation Fund, Hostplus, Intrust Super, Local Super, Maritime Super, Plum, Statewide Superannuation, Tidswell, Total Risk Management (Russell), WA Super
  • custody agreement negotiations and related matters involving BNP Paribas, Citigroup and Citibank, JPMorgan, NAB Asset Servicing, Northern Trust
  • group life insurance policy negotiations involving AXA/AMP, AIA, Canopius, CommBank, Hannover, Lloyds, MetLife, OnePath, TAL
  • administration involving The Australian Superannuation Group (WA),  Statewide Financial Management Services Administration,  SuperPartners, Super Benefits Administration, Vision Super administration platform
  • defined benefit matters involving Statewide, Fire and Emergency Services Superannuation Fund and Hostplus, closure and conversions including Kimberly-Clark Australia in respect of the wind-up and conversion of the KCA Super defined benefit division (Re KCA Super Pty Ltd [2012] NSWSC 1301).

APG Regional Regulatory Guide to Asset Management in Asia-Pacific

We collaborated with the ASEAN Plus Group in their inaugural issue of this guide to map the latest state-of-play in the asset management sector across some of the regional group’s jurisdictions, including Australia.

Download the guide

Key Contacts

Andrew Stone

Andrew Stone

Partner

Sydney
William Khong

William Khong

Partner

Melbourne
Andrew Choi

Andrew Choi

Senior Associate

Sydney
Chris Lovell

Chris Lovell

Consultant

Melbourne

Recent Posts

23 October 2024 - Knowledge

Federal Court fines Vanguard $12.9 million for greenwashing conduct

#Environmental, Social and Governance (ESG), #Competition & Consumer Law, #Governance, #Superannuation, Funds Management & Financial Services

The Federal Court has fined Vanguard Investments Australia Ltd $12.9 million for making misleading representations about its Ethically Conscious Fund. This is the highest penalty imposed on a business for greenwashing conduct to date.

20 August 2024 - Knowledge

Federal Court imposes $11.3 million penalty in ASIC’s first greenwashing case

#Environmental, Social and Governance (ESG), #Competition & Consumer Law, #Governance, #Superannuation, Funds Management & Financial Services

The Federal Court has fined Mercer $11.3 million in the Australian Securities and Investments Commission’s (ASIC) first greenwashing case. What can businesses learn from this decision and how can they avoid making misleading claims?

29 April 2024 - Knowledge

Relevant contractor payroll tax provisions extended to financial services

#Taxation, #Superannuation, Funds Management & Financial Services, #Workplace Relations & Safety

A recent NSW Supreme Court case involving mortgage brokers and a mortgage aggregator demonstrates how wide relevant contractor provisions can be when it comes to payroll tax liability.

20 December 2023 - Knowledge

Market manipulation – an evolving space to watch

#Superannuation, Funds Management & Financial Services, #White Collar Crime & Regulatory Investigations

Two recent ASIC investigations shed light on Section 1041A of the Corporations Act 2001, detailing what market manipulation is and the consequences for those found doing it.

19 December 2023 - Knowledge

Trustee risk reserves – the ATO’s view on the deductibility of payments

#Taxation, #Superannuation, Funds Management & Financial Services

The Australian Taxation Office has issued TD 2023/D3, a draft taxation determination for payments made to trustee risk reserves required by super laws. We share our thoughts on the guidance.

17 October 2023 - Knowledge

A tap on the shoulder: Prudential Standard CPS 900 – Resolution Planning

#Superannuation, Funds Management & Financial Services

APRA released APRA Prudential Standard CPS 900 – Resolution Planning (CPS 900), empowering APRA to implement an action plan to manage a trustee’s failure to protect beneficiaries. We explore the key takeaway for trustees and the consequences for those who fail to comply.

08 August 2023 - Knowledge

Regulators crack down on super fund retirement strategies

#Superannuation, Funds Management & Financial Services

A recent review of the implementation of the Retirement Income Covenant finds a need for super funds to consider how they can best assist retirees in accessing and using the available benefits to improve their retirement outcomes.

05 July 2023 - Knowledge

Supreme Court clarifies applicability of NSW Crimes Act provision to successor fund transfers

#Superannuation, Funds Management & Financial Services

The NSW Supreme Court has ruled that section 249E(2) of the Crimes Act 1900 (NSW), which deals with corrupt benefits for trustees and others, does not apply to successor fund transfers (SFT). We examine the Court’s decision and explain why this is a welcome development for superannuation trustees.

05 April 2023 - Knowledge

Superannuation heatwave – five hotspots for trustees in 2023

#Superannuation, Funds Management & Financial Services

The superannuation industry is going through a period of regulatory heatwave. This article highlights five hotspots that are putting pressure on superannuation trustees in 2023, and what they can do to overcome these challenges.

15 March 2023 - Knowledge

Key lessons from ASIC’s first court action against greenwashing by super fund

#Corporate & Commercial Law, #Environmental, Social and Governance (ESG), #Superannuation, Funds Management & Financial Services

ASIC has launched its first court action against Mercer Superannuation for allegedly making false claims about its sustainable investment options. What can businesses learn from this case?

08 March 2023 - Knowledge

Greenwashing unsustainable following ASIC and ACCC enforcement action: How your business can stay off the regulators’ radar

#Environmental, Social and Governance (ESG), #Competition & Consumer Law, #Superannuation, Funds Management & Financial Services

Australia’s corporate and consumer regulators are on red alert for greenwashing and have prioritised investigating and taking enforcement action in connection with misleading disclosures and marketing.

24 February 2023 - Knowledge

Square pegs, round holes: The 90-day MySuper transfer requirement

#Superannuation, Funds Management & Financial Services

This article explores APRA’s proposal to formalise the 90-day MySuper transfer requirement for trustees that lose their MySuper authorisation, and how this interacts with the retention or transfer of residual choice products and members.

Holding Redlich respectfully acknowledges the Traditional Owners of the land on which we operate as the continuing custodians of this land. We recognise their continuing connection to Country, practices, knowledge systems and communities. We pay our respects to Elders, past and present.

Holding Redlich © 2024