SMSF Association Submission – Combatting financial abuse perpetrated through coerced directorship

The SMSF Association welcomes the opportunity to provide this submission to the Treasury Consultation on Combatting financial abuse perpetrated through coerced directorships.

It is important that we identify and close weaknesses that perpetrators can use to financially abuse victim-survivors within our corporate and financial services system, such as when they are forced,
fraudulently, or coerced into becoming a director of a company.

While this occurs in the corporate system, it can also occur in the superannuation system where a self-managed superannuation fund (SMSF) is established with a corporate trustee, and the perpetrator and victim-survivors become directors of the corporate trustee, as well as a member of the SMSF.