The super standard of care - How high should superannuation trustees jump?

The standard of care applied to trustees is the yardstick against which the performance of trustees in administering and managing trust affairs is judged, and ultimately it regulates the level of risk a fund will bear. This article examines the standard of care applicable to trustees, both generally and in the superannuation context.It questions the low level of the ‘super standard’ in the SIS Act covenants and provides suggestions to promote a higher standard of prudential accountability and consistency across financial services regimes.