Corporate watchdog puts Australia's $4.5 trillion super industry on notice
The Australian Securities and Investments Commission (ASIC) has warned superannuation trustees to improve safeguards for retirement savings. Commissioner Simone Constant emphasized that trustees must address inadequate monitoring and high advice fees, following the losses of over $1 billion for more than 11,000 Australians due to the collapses of Shield and First Guardian.
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Summary by OZbrief Editorial · ABC News – Top stories · Source
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Published 28 Jun 2026, 19:02 UTC · Updated 28 Jun 2026, 19:10 UTC
Summary by OZbrief Editorial. Original report: ABC News – Top stories. Editorial policy · Corrections
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