Aussies “Bamboozled” By Free Choice

APRA Exec Cole ‘troubled’ by quantity and performance of funds DIY investors can choose from within A$3tn superannuation sector

Regulator really doesn’t like competition.

Just another bureaucrat lamenting her lack of control of the market?

Australian Prudential Regulation Authority board member Margaret Cole is in today’s Financial Times lamenting the high number of funds retirement savers wishing to make their own decisions can choose from, and has pledged to crackdown on trustees failing to weed out poorly performing products.

Catastrophic, isn’t it? Customers actually having a free choice.

Not in the interests of overly powerful Canberra bureaucrats.

Read Cole’s condescending arguments on the Financial Times.

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