Letters to the Editor
Red card for super fund bosses more effective than fines
Readers’ letters on appropriate punishment for super fund director breaches; Zionism v Judaism; kicking our coal habit; and Donald Trump’s cabinet picks.
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It is good to read that ASIC is threatening to act against delinquent super fund managers (“Super directors on hook for losses”). But fining super funds for breaches by their management is almost a pointless act, given the funds “hold multimillion-dollar penalty war chests with which they pay fines out of members’ money”. The fines only penalise the fund members.
Members would end up paying super funds’ fines for any breaches. David Rowe
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