How Did the Government Empower the MPFA?

What disciplinary powers did the 2011 government propose for the MPFA?

In August 2011, the government proposed giving the MPFA full disciplinary powers by 2012 — reprimands, fines, suspension and deregistration — plus inspection and investigation rights over MPF intermediaries. The consultation from 28 March drew 13 submissions, most backing statutory sales regulation before the Employee Choice Arrangement.

What were the proposal’s key points?

Disciplinary power vested in the MPFA with front-line regulators ensuring consistency; sanctions for unregistered selling; about 29,000 intermediaries already registered.

Why does tougher regulation help workers?

Cleaner sales practices; compare funds yourself at MPF fund comparison instead of relying on pitches.