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The explanatory memorandum to the Bill notes that it “includes amendments to the portfolio holdings disclosure rules, which generally require trustees to publish information about their disclosable investment items on their website. The portfolio holdings disclosure rules currently contain an exemption that allows trustees to choose not to disclose up to five per cent of superannuation holdings”.
The Treasurer, Josh Frydenberg and the Minister for Superannuation, Financial Services and the Digital Economy, Jane Hume, in announcing the introduction of the bill to the Parliament, made reference to the portfolio holdings requirement changes under the heading of “Increasing transparency and accountability”.