Regulatory Alerts2025-11-06
Prime Super pays ASIC infringement notice alleging misleading statements about tobacco investments
ASIC issued an infringement notice to Prime Super Pty Ltd for falsely claiming its superannuation fund entirely excluded tobacco manufacturers while indirectly investing in major tobacco companies. Prime Super paid $18,780 to comply with the notice and corrected its disclosures to accurately reflect its investment holdings. This enforcement action is part of ASIC's broader campaign against greenwashing in the financial services sector.
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