The clampdown on tax concessions for superannuation balances greater than $3 million has been laid out in draft legislation.
Karren Vergara
 | Karren Vergara is a financial journalist with Financial Standard, covering wealth management, including superannuation, banking and financial planning. Prior to becoming a journalist, she was an accountant for more 10 years. She has a diploma in journalism and Bachelor's degree in business, both from UTS. |
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AMP has paid $110 million to settle a class action relating to fee for no service scandals and misleading regulators, but claims no responsibility.
Melissa Caddick's victims are set to receive $3 million in initial compensation, a fraction of the $23 million she scammed from them.
Australian Super has had to repay members about $2 million, the second bungle to come to light recently from the nation's largest super fund.
Australians have raised more issues with the financial ombudsman than ever, with investments and advice complaints growing fast.
Changes to individual tax residency rules may include new tests aimed at preventing manipulation.
The federal government is vowing to cut red tape and allow Aussies to access financial advice through their super fund in a massive shake-up of the industry.
Former financial adviser Gavin Fineff has been sentenced to nine years in prison after a court determined he defrauded 12 clients $3.36 million.
The worst-performing and most expensive super funds in Australia have been named in the latest APRA heatmap results.
While women have grown their super balances faster on average over the past decade, the gender gap remains substantial.