September continued to be a busy month in the funds, super and insurance sectors, as the industry is in the final stages of preparing for the anticipated breach-reporting, anti-hawking reforms and new customer complaints handling requirements which are effective from October. Notably, ASIC has provided further guidance on each of these topics to assist the industry with their transition. Other significant updates include APRA updates on the reformed prudential standard and practice guide for insurance in superannuation, its policy priorities for the remainder of 2021, and the release of updated reporting standards for Phase 1 of the Superannuation Data Transformation project.
Read the full update here.