On 10 February 2026, the Treasury released the ‘Enhancing oversight and governance of managed investment schemes’ consultation paper. The Consultation Paper proposes to strengthen retail consumer protections and improve stability and confidence in the superannuation and financial services sectors, predominantly through strengthening governance and capital holding requirements for registered MISs.
The Consultation Paper also considers measures such as waiting periods for superannuation switches and constraints on inappropriate advice related fees.
Ultimately, the measures proposed in the Consultation Paper aim to prevent harm to retail consumers stemming from poor governance practices, whilst maintaining investor confidence in the Australian financial system.