Incolink urges for robust, fit-for-purpose regulation

Incolink, Australia's oldest and largest worker entitlement fund, has welcomed greater regulation of our sector, confirming that its current approach to self-regulation is already harmonised with the decision announced today by corporate regulator ASIC.

ASIC has announced that employee entitlement funds will be required to hold a financial services license and comply with some managed investment provisions of the Corporations Act.

In its submission to the regulator’s consultation paper, Incolink said the fund was well-positioned to embrace any of the options under consideration. It also said that its preferred option for the sector at large was option 2(b) – ultimately chosen by ASIC – as this will enable regulation that reflects the nature of workers entitlement funds and meet the needs of the members and industries they serve.

Incolink has long advocated for regulation and is prepared for it.

We look forward to continuing to engage constructively with ASIC and the federal government to ensure the proposed regulation of our sector becomes a reality.