Three super funds issued infringement notices for misleading investment disclosures

Why this matters

This is a news announcement of completed enforcement action (infringement notices issued and largely paid) by ASIC against three superannuation fund trustees for false or misleading representations about investment options, asset allocation, and performance objectives on their websites and member portals. The action affects major funds including Australia's second-largest super fund (ART with $346.3bn in assets), demonstrating sector-wide relevance. The violations involved inaccurate disclosure of investment composition and return objectives—core conduct and disclosure failures. While not a new rule or binding obligation, this represents a significant enforcement precedent signalling ASIC's commitment to holding trustees accountable for disclosure accuracy, with practical implications for how all superannuation trustees manage their investment disclosures. Urgency is null because this is informational news of completed enforcement, not a forward-looking obligation or deadline.

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