The Corporations Amendment (Portfolio Holdings Disclosure) Regulations 2021, registered today [Thur 11.11.2021], prescribe how portfolio holdings of a registrable superannuation entity (RSE) must be disclosed for the purposes of s 1017BB of the Corporations Act 2001.

The Regulations detail the way PHD information must be made publicly available and presented consistently with the tables in new Sch 8D to the Corporations Regulations 2001. The information must be easily downloadable from the website of the entity in a delimited file format. The Regulations also allow super trustees to provide supplementary information in a separate public disclosure.

DATE OF EFFECT: The Regulations will apply to reporting days that occur on or after 31 December 2021. [LTN 218, 11/11/21]

Extract from Explanatory Statement

Chapter 7 of the Corporations Act 2001 provides that the trustees of registrable superannuation entities (RSEs) must make certain information about the RSE’s investment options publicly available on the entity’s website no later than 90 days after a specified reporting day (the portfolio holdings disclosure regime). Regulations may prescribe if certain information may be aggregated, and how that information should be organised.

The Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 1) Act 2019 amended the information about portfolio holdings available for superannuation fund members and other stakeholders.  These measures have subsequently been amended by the Treasury Laws Amendment (Your Future, Your Super) Act 2021.

The Corporations Amendment (Portfolio Holdings Disclosure) Regulations 2021 supports the portfolio holdings disclosure regime by prescribing the manner in which information provided under the portfolio holdings disclosure regime must be organised.

The regulations detail the way information regarding the RSE’s portfolio holdings that must be made publicly available is to be organised.  However, in addition to these prescribed disclosures, superannuation trustees may provide supplementary information regarding the portfolio holdings of the RSE’s products in a separate public disclosure.

The amendments made by this instrument apply in relation to reporting days that occur on or after 31 December 2021 or the commencement of the Schedule, whichever is later.

Extract from AFR article (5.11.21) linked to super disclosure reforms

One of the country’s largest industry superannuation funds, Aware Super has written down the value of its blockbuster $1.1 billion takeover of financial planning business StatePlus to little more than $100 million after just five years.

The $148 billion fund that manages savings for police officers and public servants, formerly known as First State Super, revealed it had reduced the valuation of a group of assets, known as “investments in service entities” that includes what is left of the exposure to the StatePlus operations, down to $139 million at the start of September 2021.

The 90 per cent write-down of the business comes as the Morrison government pushes for new laws that will force retirement savings managers to divulge previously commercially sensitive information about unlisted assets. These investments are of growing importance to the $3 trillion super system because as funds grow larger, they must increasingly invest beyond equity markets into private and unlisted assets and infrastructure to find returns.

[Tax Month – November 2021Previous 2021] 14.11.21



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