The Moran Principle

This week, an interview in Investor Daily helped to shed some light on the agenda of the industry super network. The head of the organisation clearly indicated that once they have sorted out financial planners and FOFA, they will be coming after self managed super funds. "I tell you one thing: once we get this commission thing [FOFA] out of the way, we are coming after self-managed super, not because we want to burden it in any way, but we want them to be on the same footing as industry funds," is the quote used in the article and attributed to Garry Weaven. (see http://www.investordaily.com.au/11846.htm ) This is of concern on so many levels I hardly know where to start - but here goes... Mr. Weaven clearly thinks that "this commission thing" is his problem to solve - not the regulator or government. Since when does one product provider in the market get to increase their market powers by changing (setting) government policy to the detriment of other providers. ...