As 2022 came to a close, key superannuation-related bills remained before Parliament, including the Financial Accountability Regime Bill.

The regulators also remained active until a slight reprieve for the holidays. APRA issued the MySuper Heatmap and final prudential standard on recovery and exit planning. ASIC issued infringement notices related to greenwashing, filed its first civil penalty proceeding alleging contraventions of the design and distribution obligations and issued a report on complaints handling. AUSTRAC issued guidance on compliance reporting and non-standard identification.

We also saw progress related to climate-related financial disclosure with Government seeking views on the design and implementation of standardised, internationally aligned requirement.

Gabriela Pirana - Senior Associate
QMV Legal

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