No caps for super fund fees: Murray

By Paul Garvey - The Australian

The pair agreed that the practice of relying on product disclosure statements to inform investors of the risks associated with financial products needed to change, with the financial system needing to do more to build trust with their clients. “When you deal with products that are out a long time, and require an understanding of compounding over a long period of time, I think a large part of the community will never have sufficient information to be able to make a judgment on those,” Mr Murray said. “So [we are looking at options ] dealing with the qualifications of advice and registrations of advisers, giving ASIC more powers to deal with issues, and we’ve spoken to regulators.

Read more here: Business Spectator


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