ASIC Warns Super Platforms on Fees and Risks

Australia’s corporate regulator ASIC is sounding the alarm over risky retirement investments, warning superannuation platforms are still exposing members to dodgy funds and unfair fees — especially after two major collapses wiped out nearly $1.1 billion for 11,000 Australians. A 15-month review of six major platform trustees found little progress since 2024, with glaring gaps in fee oversight, investment choices, and protection from bad advice. ASIC is furious trustees are prioritizing advisor relationships over member interests, and while platforms have tripled member benefits, fees have skyrocketed fourfold. With enforcement powers ready to be deployed, ASIC is giving platforms a final chance to fix their systems before names are dropped — because retirement savings shouldn’t be gambled with. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c0e97e2526156bdb