Australian Securities & Investments Commission outlines 12 month transitional enforcement of superannuation advertising ban during employee onboarding

The Australian Securities & Investments Commission has outlined a transitional enforcement approach for the new ban on advertising superannuation funds during the employee onboarding process, which takes effect on 1 July 2026. For 12 months from commencement, ASIC will take a balanced approach while entities build the capabilities needed to comply, with enforcement likely to focus on misconduct that is serious or reckless rather than on honest attempts to meet the new requirements. The ban is intended to reduce the risk that employees are influenced into uninformed decisions, including opening inappropriate products or creating duplicate superannuation accounts. The restriction does not apply to general advertising to the public. It also does not cover MySuper products that meet the legislated criteria, employer default funds and an employee’s stapled fund. The changes amend the Corporations Act 2001 through the Treasury Laws Amendment Supporting Choice in Superannuation and Other Measures Act 2026. That Act also allows regulations to set more detailed conditions and disclosure requirements, and ASIC plans to update its guidance once those regulations are made.