Why is the federal government banning superannuation marketing at the point of employment?

The ban aims to protect new employees from being pressured into opening inappropriate financial products when starting a job. Historically, onboarding marketing has led to workers unintentionally creating duplicate superannuation accounts, which erodes total retirement savings through multiple sets of fees and insurance premiums.

Which superannuation products are exempt from the new ASIC onboarding advertising ban?

The advertising ban does not apply to general public marketing, such as television, billboard, or digital campaigns targeted at the wider community. Additionally, MySuper products meeting specific legislated criteria, employer default funds, and an employee's existing stapled fund are completely exempt from these restrictions.

How long is the transitional enforcement period for the new superannuation onboarding advertising ban?

ASIC has announced a 12-month transitional period starting from the commencement date on 1 July 2026. This year-long window acknowledges that financial entities and employers require time to adjust systems and build the operational capabilities needed to comply with the law.

How will ASIC approach regulatory enforcement against super funds between mid-2026 and mid-2027?

During the 12-month transitional window, ASIC will adopt a balanced approach to enforcement rather than immediate harsh penalties. The regulator will focus punitive actions on serious or reckless misconduct where entities intentionally bypass the rules.

What legislation governs these new restrictions on workplace superannuation marketing?

The changes are implemented under the Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Act 2026, which updates the Corporations Act 2001. The Act provides the foundational framework for the ban while allowing subsequent government regulations to specify finer technical points.

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ASIC confirms approach to onboarding super ban

Q: What is the new ASIC ban on advertising superannuation funds during employee onboarding?

The Australian Securities and Investments Commission is enforcing a legislative ban on advertising superannuation funds to employees while they are being onboarded at a new job.

Written by Jon CuthbertPublished Jun 9, 2026, 10:46 PM

The Australian Securities and Investments Commission has confirmed its transitional enforcement approach ahead of a strict new ban on advertising superannuation funds during employee onboarding.

Set to commence on July 1, the legislative ban aims to protect new workers from being pressured into uninformed financial decisions, which often lead to opening inappropriate products or unintentionally creating duplicate superannuation accounts.

The corporate regulator clarified that the ban targets workplace onboarding specifically and does not apply to general public advertising.

Furthermore, MySuper products meeting legislated criteria, employer default funds, and an employee’s existing stapled fund are exempt from the new restrictions.

Acknowledging that financial entities and employers will require time to build the necessary operational capabilities to comply, ASIC announced a 12-month transitional period starting from the commencement date.

During this year-long window, the regulator will adopt a balanced approach to enforcement.

ASIC stated that any immediate regulatory action will likely focus on serious or reckless misconduct, rather than entities making honest, demonstrable attempts to align with the new requirements.