The corporate regulator could take superannuation fund executives to court for moving their personal retirement savings out of unlisted assets before the investments were dramatically valued lower.
The Australian Securities and Investments Commission on Wednesday revealed it had examined investment switching by executives at 23 funds, focusing on their conduct during the market volatility arising from the COVID-19 pandemic.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
