“We’ve been in conversation with ASIC for 12 to 18 months, and they were clearly holding fire, but now they’re taking greenwashing pretty seriously. “Taking a fund to court is quite an aggressive move, and they’re putting all super funds on notice,” he said. Theres a pause feature on the timer and hints to help you out. There are sounds in these puzzles as well as some animations that should spice up the game for you. It’s a very clever strategy because if the regulator tried to define ESG investing, it would be picking an incredibly vague, subjective fight.”ĭunnin added ASIC was taking a hard line on greenwashing and the move was months in the making. Shockwaves puzzles can be played in easy, medium, or hard mode, but only online. “It’s not making any judgement on whether super funds are ESG sustainable, but if funds are going to make a claim, they have to be able to defend it. Skill level option can be changed at any time while playing a puzzle. “ASIC is taking a pure disclosure approach,” he said. In Regular Mode, incorrect letters are shown in red.Use the 'HINT' options button to reveal letters and words.
Market Forces campaigner Brett Morgan said analysis conducted by his firm in July last year found that eight out of 11 major Australian super fund investment options labelled “sustainable” or “socially responsible” were investing in companies expanding in the fossil fuel sector. Mercer is not the only superannuation fund potentially misleading consumers. The move comes after the Financial Services Royal Commission gave rise to legislative amendments which enhanced ASIC’s powers to take action regarding a broader range of superannuation trustee conduct. Shockwave and Flash games, crosswords, logic games, IQ tests. The importance of these court actions is that, if the court rules in ASIC’s favour, it sends a message not just to Mercer, but to the industry more broadly that if you are going to make these kinds of representation, you need to be very sure that you can implement the exclusions you are promising investors.” Dedicated to crossword puzzles, quizzes, Sudoku, Battleship puzzles and other games. “We have made very clear to the industry what we are concerned about. “We’re now ramping up,” deputy chair Sarah Court said. But the regulator’s first court proceeding in this area reflects a sharpened focus on action against greenwashing as outlined in ASIC’s 2023 Enforcement Priorities.
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