The Financial Services Council (FSC) has announced a new program to provide specialised training for superannuation trustees.
The course, 'Advancing Superannuation Governance', was designed with the Australian Institute of Company Directors (AICD) and will provide customised training for current and prospective superannuation trustees.
"It is critical that superannuation becomes the high-water mark of good governance and transparency as the $1.5 trillion invested on behalf of 11 million Australians grows to $5 trillion by 2030," FSC chief executive John Brogden said.
"We welcome collaboration with the AICD as the governance landscape undergoes significant transformation through new laws, prudential standards and self-regulation."
The new course will support the FSC's superannuation governance standard, which commences from 1 July 2013.
The governance standard sets out proposed new binding requirements on FSC members that hold a Registrable Superannuation Entities licence to operate public offer funds.
The policy covers areas such as independent, conflicts of interest, and environmental, social and governance (ESG) issues, designed to further practice standards and transparency among fund trustees.
"We are pleased to be developing this program together with the FSC, to assist in the up-skilling of new and existing directors, and to build their governance knowledge and capability in the superannuation industry," AICD chief executive John Colvin said.
"The talent pool for independent directors of super funds also needs to be widened, and this course will help bridge the gap in directors' knowledge."
