Super’s river of money has created a super accountability void
Financial Services Minister Daniel Mulino will be in the firing line next week as he attempts to divide responsibility for a compensation scheme for victims of financial fraud and mismanagement.
Australia is rightfully proud of a national superannuation system that now adds up to well over $4 trillion. Even Donald Trump sounds impressed by its success.
But such an extraordinary pot of other people’s money – with billions of dollars more constantly arriving – will always attract more than the usual share of financial opportunists, ticket clippers and outright fraudsters.
Loading...
Jennifer Hewett is the national affairs columnist. She writes a daily column on politics, business and the economy. Connect with Jennifer on Twitter. Email Jennifer at jennifer.hewett@afr.com
