Australian Treasury proposes reforms to enhance superannuation product protections

On April 11, 2026, Australian federal Treasury proposed new regulations to improve superannuation products after the collapse of Shield and First Guardian, which lost over $1.2 billion in savings for 12,000 members. Proposed changes include banning cold calls for super products and requiring lead generators to hold financial licenses. These reforms aim to protect consumers and enhance accountability.

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Summary by Glance · Original reporting by SMH