The Parliamentary Joint Committee on Corporations and Financial Services  is to undertake an inquiry into the provisions of the Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Bill 2012.

 

The bill amends the Superannuation Industry (Supervision) Act 1993 to: expand the duties for registrable superannuation entity (RSE) licensees; apply new trustee duties to RSE licensees of an RSE that offers a MySuper product; apply duties to the directors of corporate trustees; provide the Australian Prudential Regulation Authority with the power to issue prudential standards in relation to superannuation prudential matters; and make consequential amendments.

 

The Committee will consider the bill concurrently with the provisions of the Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011 .

 

Submissions should be received by  13  March 2012. The reporting date is 13 March 2012.

More information is here.