ASIC reveals major gaps in investment platforms managing $400 billion in savings

On July 4, 2026, Australia's financial regulator ASIC reported significant gaps in investment platforms, which manage $400 billion in retirement savings. The findings identified serious failings in safeguarding members' money from dishonest practices and ensuring value for services. The rise of platform-advised investments is concerning as advice fees have surged to $2.23 billion in the last decade.

Summary by OZbrief Editorial · SMH · Source