Imagine how outraged Labor and the Greens would be if a big bank or big insurer was caught out repeating the “fee for no service” scandal that led to the 2016 Hayne Royal Commission. Yet both parties are missing in action so far on the Cbus “death and disability with no benefit” failure that has again raised questions about the governance of Australia’s $3.9 trillion superannuation system.

On Tuesday, the Australian Securities and Investments Commission announced that it was taking court action against Cbus for failing to process 10,000 disability and death claims in a timely manner.