Fri, 9th Aug 2024

In this week's Financial Services Online update, critical news from the Australian superannuation sector is discussed. Highlights include executive reshuffling at Iress as industry veteran Sam Wall is set to head its superannuation division. Catherine Bolger's appointment as Employee-Nominated Board Director at REST Super Fund marks another key personnel change. The Federal Court's landmark ruling against Mercer Super, imposing a hefty fine for misrepresenting sustainability of its 'green' investments, emphasizes increasing demand for transparency from financial institutions. Lastly, the Australian Prudential Regulation Authority faces scrutiny over payments from industry super funds to unions, adding fuel to debates about ethical fund management.