Submission

Friday, 17 November 2017

Strengthening penalties for corporate and financial sector misconduct

AIST supports appropriate penalties for corporate and financial sector misconduct, and generally supports the positions taken in this Paper. We agree that an effective regulator needs to have the regulatory resources, including penalty provisions, to allow them to provide effective enforcement. AIST cautions against disgorgement penalties which may inappropriately penalise the members of a superannuation fund.