Product Disclosure Statement for every Super Fund - surely j
QUESTION: Last week you stated that it is now decided law that all Self Managed Super Funds must have a Product Disclosure Statement. I disagree. However, the auditor of my clients' super fund agrees with you. We are all reading the same section 1012A of the Corporations Act 2001.
What is your legal view of this matter?
ANSWER: I am surprised that there are still people out there that run the risk of not having an up-to-date Product Disclosure Statement. There are civil and criminal sanctions if you are wrong for both the trustees and their financial advisers, including the accountant, auditor, financial adviser and lawyer.
You can purchase the paper that Brett Davies Lawyers wrote at LawCentral www.lawcentral.com.au.
However, for those members who paid their $99 to upgrade to Platinum Membership they can read the definitive paper on this topic here at no charge.
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