This report highlights the need for reform to the superannuation system to ensure that governance structures are such that fund members’ interests are protected.

Australia’s 2.2 million small to medium enterprises (SMEs) employ two thirds of Australian workers and create a substantial proportion of new jobs. Ensuring that businesses have access to capital is important for the growth of their businesses and to create jobs in the economy.

AUSTRAC assessed the overall ML/TF risks associated with remittances sent through remittance providers from Australia to Pacific Island countries as low. This was based on the low level of criminality associated with these remittances and the generally low value of remittances being sent to support family and communities in the Pacific.

ASIC is engaging in a consultation process to refine and update the National Financial Literacy Strategy for 2018.

This report shows around half of Australians who switch superannuation funds pay significantly higher fees and obtain lower returns than their original fund, prompting concerns bank sales strategies are exploiting consumers.