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QMV Super Solutions specialise in the delivery of world-class
technology and business solutions for the superannuation and
wealth management industries. With a fresh approach to solving
complex process issues, our tailored solutions are delivered by a
bright young team who are experts in their fields, and passionate
about results.
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ADMINISTRATORACQUISITION
The previously announced
acquisition Superpartners to the
Link Group has been finalised.
Superpartners’ shareholders
(AustralianSuper, Cbus, Hesta,
HOSTPLUS and MTAA Super)
agreeing to sell the business for
consideration of $170 million.
Individual service agreements
between AustralianSuper, Cbus,
Hesta, HOSTPLUS, MTAA Super
and Superpartners will govern
the ongoing administration
service relationships.
Source: AustralianSuper
APRAREPORTING
The Australian Prudential
Regulation Authority (APRA) has
released a revised version of
Reporting Standard SRS 711.0
SuperStream Benchmarking
Measures (SRS 711.0).
The reporting standard has
been simplified following
consultation with the industry.
The scope of the report is now
the volume of contribution
transactions from active
employers, the channel through
which they are received and
the total processing cost.
Source: APRA
MINISTERIALAPPOINTMENTS
Assistant Treasurer Arthur
Sinodinos has resigned from the
ministry, after having stood
aside from the role to give
evidence in NSW Independent
Commission Against Corruption
(ICAC) inquiries.
Josh Frydenberg MP has been
appointed as Assistant
Treasurer, after spending the
first 15 months of the Abbott
government as Parliamentary
Secretary to the Prime Minister
in charge of the deregulation
and red tape reduction
agenda.
Source: AFR
ROYALCOMMISSION
The interim report of royal
commission into trade union
corruption has raised concerns
about possible conflicts of
interest related to the
governance of some industry
superannuation funds. The
interim report makes specific
reference to LUCRF, Cbus and
TWU Super. Recommendations
will not be made until the
commission releases a final
report.
Source: Commission
CONSUMERRESEARCH
A consumer survey conducted
by Engaged Marketing
surveyed more than 3,720
Australians about their super
under a ‘net promoter score
framework’. The survey results
suggest that member
satisfaction and engagement is
significantly higher for SMSF
Fund members.
Source: Investor Daily
REGULATION
The parliamentary joint
committee (PJC) on
corporations and financial
services has voiced its support
for the Financial System
Inquiry's (FSI) recommendation
concerning the powers of the
Australian Securities and
Investments Commission (ASIC).
The PJC recommended that
ASIC should be empowered to
have greater oversight of
industry managers and
executives to ensure individual
accountability and a better
compliance culture.
Source: Investor Daily
QMVSuperBrief Quick Superannuation Industry News
Issue #52 of 2014: Friday, 26th December