ASIC warns big super that lawsuits so far are just the start
The corporate watchdog targets misconduct in the massive superannuation sector, prioritizing customer protection. Rising complaints prompt ministers to warn that stricter regulation is likely if the industry fails to self-correct these failures. This highlights greenwashing risks, where funds may hide poor practices behind vague sustainability claims while actual governance and ethical standards remain dangerously low.
Source: afr.comPublished on 2023-11-16