RSE Licensing

SuperNova Services (SuperNova) provides wide ranging support to trustee boards and senior management for the application and maintenance of a RSE License.
A trustee board has a fiduciary objective to ensure the RSE licensee undertakes sound and prudential management of the superannuation fund by a competent (fit and proper) Board that can exercise discretion to reach fair and reasonable decisions in the best interests of the funds’ members. SuperNova Services can assist Boards in applying for, and meeting their superannuation licensing requirements.

    • Do you require a RSE license or a change to your license conditions?
    • Do you require a MySuper or an ERF license?

Click Here for more information on RSE Licensing.

Trustee Advisory

Superannuation Trustee Boards have significant obligations in discharging their duties and responsibilities in an environment frequently impacted by dynamic regulatory change. SuperNova Services can offer assistance in board reporting, management of board agendas, enhanced monitoring and strategic planning to help meet current regulatory demands and best practice. We can also assist in responding to Enforceable Undertakings, Regulatory Reviews and Audit recommendations.

    • Do you require improvements to board reporting, or enhanced monitoring of obligations?
    • Do you need to respond to regulatory reviews or implement recommendations?

Superannuation Compliance and Governance

While Senior management will have responsibility for day- to-day management of the RSE licensee’s business operations, the Board retains ultimate accountability. This includes giving effect to the implementation and monitoring of structures, procedures, information and oversight arrangements used in managing the RSE licensee. SuperNova Services can advise on a range of compliance processes, indicators and controls to help protect the licensee and ensure a safe operating environment for fund members.

    • Do you have a robust fit and proper process in place for the appointment and ongoing review of directors and responsible officers?
    • Do you have a Board renewal plan?
    • Does your Board have a remuneration policy and remuneration committee?
    • Does the Board have a Risk and Audit Committee, with at least three members of all whom are non-executive directors?
    • Does your board or management team have a governance program in place to assist in ensuring they meet their responsibilities?
    • Are your delegated authorities clearly identified, documented, maintained and monitored?
    • Do you outsource any or all of your functions that underpin your RSE License?
    • Are these outsourced arrangements clearly identified, documented, maintained and monitored?
    • Do you have a robust risk management framework?
    • Do you have a business plan?
    • Do you have a risk appetite statement that is approved by the Board, a risk management strategy and is it documented, maintained and monitored?
    • Are all your processes documented, reviewed at least annually and up to date?

Regulatory Affairs

SuperNova can assist in preparing and responding to submissions, general advocacy on industry affairs, and the provision of information/educational material for a broad range of matters including superannuation trustee initiatives. The Partners of SuperNova maintain adequate training, experience and competency under the requirements of RG146 to provide relevant advice in relation to financial products.

    • Do you need to respond to discussion papers and prepare submissions on industry matters?

Product/Policy Development

As a licensing requirement an RSE Licensee must approve and maintain policies which are regularly reviewed and kept up to date. These policies must give appropriate regard to the RSE licensee’s business operations and its specific functions in order to be effective. SuperNova can assist in the annual review of all RSE licensing policies, (such as Fit & Proper, Outsourcing, Conflicts of Interest, Adequacy of Resources etc.)

    • Do you have a policy framework?
    • Do you release offer documents to the market?
    • Do you require assistance with the design, layout and content of your offer documents?
    • Do you have the right due diligence process to ensure your documents are not deceptive or misleading?

Risk and Compliance Frameworks

Under the Prudential Standard SPS220 RSE Licensees’ must have a board approved risk appetite statement, and maintain a board approved risk management strategy. SuperNova Services can assist in reviewing and articulating the trustee’s key risks, setting out controls and monitoring programs as part of the risk framework.

    • Have you identified the key risks of your business and their indicators?
    • Have you identified the likelihood of their occurrence and the potential impact to your business?
    • Have you identified ways in which to mitigate your inherent risks so they are manageable and any residual risk is minimized?

Business Management

Under the Prudential Standards the RSE Licensee must have a board approved business plan that sets out the strategic direction on the RSE licensees’ approach to managing its business operations. SuperNova has experience facilitating and delivering trustee business strategy workshops with management and trustee boards as part of the Board Year calendar, ensuring they correspond closely with the trustee risk appetite and risk management framework process.

    • Are you receiving the right information in order to manage your business?
    • Would matrix reporting be of benefit to you in managing your business?
    • Is your budgeting process appropriate or adequate?
    • Are your expenses being well managed?
    • Do you have the right policies in place and are they being adhered to? Examples include expense policies, travel policies, gift policies?
    • Do you have the right delegations of authority, or indeed is your business being stifled by too many policies and inadequate delegations?
    • Are your processes documented?
    • Do you maintain an assets register?

Mediation with Tribunal and Ombudsman

SuperNova can assist in preparing submissions when responding to complaints, reviewing case files, including the monitoring and reporting on complaint handling/breach registers. SuperNova can assist in meeting ASIC’s RG165 requirements in relation to both Internal and External Dispute Resolution schemes.

    • Do you require assistance with complaints monitoring and resolution?
    • Does your trustee have adequate oversight of complaints escalated to the Superannuation Complaints Tribunal or litigated matters?
    • Do you require assistance or would like to outsource the preparation of submissions and/or representation at the Superannuation Complaints Tribunal?

Building Specialist Teams

SuperNova has experience in recruiting and building specialist teams to design, deliver and implement a range of corporate governance solutions across financial services to both small and large organisations. We can also assist in resourcing to meet these needs through our network of associates and peers.

    • Do you need to build a specialist team?
    • Do you require assistance in identifying what might be the best structure to suit your operation?
    • Do you know what your needs are today and whether they will change over time?
    • Do you require assistance in preparing relevant position descriptions?
    • Do you require assistance with screening potential candidates?


  • Do you need independent members to complement and strengthen your compliance or remuneration committees?
  • Do you require assistance with the implementation of a restitution program in response to regulatory requirements or audit findings?
  • Do you require assistance with the oversight of investment decisions and your investment policy framework?

If you answered yes to any of these questions, please contact SuperNova Services to further discuss how we may be of assistance in addressing your particular needs and requirements.