Corrupt APRA hunts The New Daily

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Via Domain:

The prudential regulator is investigating online publication The New Daily‘s commercial relationships with superannuation funds as part of a review of how members’ money is being spent by the industry.

Liberal Senator Andrew Bragg has been a vocal critic of industry super and last week passed a Senate motion to demand the ABC provide more details of its content-sharing agreement with The New Daily, which is worth less than $50,000. But details of how The New Daily is funded and its advertising arrangements with superannuation funds will also be scrutinised by the Australian Prudential Regulation Authority as part of an investigation into how trustee money is spent by the sector.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.