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AustralianSuper’s plans to give data to The New Daily on hold
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Industry super fund AustralianSuper has delayed plans to sign up members to online news website,
The New Daily, on an opt-out basis, as it waits on advice from the information commissioner.
The Australian Prudential Regulation Authority and the Australian Information Commissioner are investigating the way in which data is shared between
The New Daily and shareholder AustralianSuper.
AustralianSuper CEO Ian Silk said all plans to sign up members to The New Daily were on hold.
Both funds said they had made preliminary enquiries but had not heard back.
AustralianSuper chief executive, Ian Silk, said: “Let’s assume the premise of the story is correct for this conversation – the point about the AustralianSuper board and organisation is that we’re concerned about any improper practices that occur in an organisations we’re associated with whether we’re the super fund or indeed an investor albeit indirectly in this case here.
“AustralianSuper has adopted a set of asset owner principles. It sets out a range of factors we expect to see in organisations that we invest in directly and that invest our capital. We expect all organisations we deal with to follow the principles and they in this context are on appropriate practices being employed by organisations in relation to labour relations.