It has primarily in the past, been regulated or been seen as part of the employment contract. According to Virsakis, superannuation is set to become more and more regulated and will continue to move further away from its traditional regime. Virsakis also discussed the licensing provisions affecting superannuation and the way in which they are constantly changing.
Superannuation is more subject to licensing provisions.
There are, however, some exceptions to the licensing provisions affecting superannuation, Virsakis said. One major exception he cited was the representative of a dealer in financial products. A representative of a licensed dealer does not have to be licensed in their own right. If you are an employee or director of the licensee then similarly you do not have to be licensed yourself. Another exception Virsakis mentioned was product issuers.