23 Aug 2026
FSC Chief Breaks Down Government's Consumer Protections and Industry Reform Address
#34. The new era of super legislation: how much is too much—and who pays? Sarah and Neil dig into the government's proposed reforms with Financial Services Council CEO Blake Briggs, uncovering the central tension: how do you craft effective consumer protections after the First Guardian and Shield disasters, without layering on so much complexity and cost that it stifles the industry and confuses members?
The discussion pulls no punches on who shoulders the fallout from bad actors—with good advisers, super funds, and even unrelated sectors picking up the multimillion-dollar CSLR tab for a handful of failures.
Blake Briggs is blunt: unless reforms get costs down, the logic of "spreading pain" through ever-wider levies won’t last. The episode also covers why banks are being deliberately sidelined from the new advice model, the ongoing struggles to police dodgy lead generation and advertising, and the philosophical question of whether we’re training the public to expect zero risk; or shouldering the cost for market events nobody can insure away.
Who should listen:
Product, risk, or legal leads at APRA-regulated super funds facing a regulatory overhaul
Anyone working in compliance, policy, or practice management wrestling with uncertainty about CSLR costs or due diligence reforms
Trustees or directors trying to gauge what the next three years look like in advice, advertising, or member communications
Highlights
04:01 Engaging with industry regulations
09:14 Challenges in Financial Advisory Market
12:16 New rules on financial cold calls
13:43 Legitimate competition in financial advice
19:46 Discussing market risk and consumer expectations
22:32 Superannuation due diligence improvements
25:33 Changes to CSIR compensation rules
30:02 ASIC's funds management reforms
32:11 Investment liquidity and consumer expectations
35:49 Risks of uninformed investing
41:03 Drafting and refining legislation process
44:50 Government reforms in investment industry
47:08 Upcoming industry session and gala dinner
Blake Briggs, Chief Executive, Financial Services Council
Connect with Blake Briggs on LinkedIn (https://www.linkedin.com/in/blake-briggs/)
Follow Financial Services Council on LinkedIn (https://www.fsc.org.au/)
Visit Financial Services Council website (https://www.fsc.org.au/)
Attend FSC Retirement Summit: 22 Oct 2026, Sydney (https://www.fsc.org.au/events/fsc-retirement-summit-2026)
That Super Show
That Super Show is the most downloaded podcast for Australian superannuation professionals. Sarah and Neil cover the issues, debates and decisions shaping the industry - without the spin.
Subscribe to the show wherever you listen to podcasts and don't forget to leave us a rating and review.
Visit That Super Show website (https://www.thatsuper.show/) and become a newsletter subscriber
Email hello@thatsuper.show (mailto:hello@thatsuper.show) if you've got a topic you'd like us to cover or a guest proposal or suggestion
Follow That Super Show on LinkedIn (https://www.linkedin.com/company/thatsupershow)
Follow That Super Show on YouTube (https://www.youtube.com/@thatsuper-show)
Your Cohosts
Sarah Penn
Sarah Penn is the CEO and founder of Mayflower Consulting, an Australian financial services consultancy specialising in product governance, PDS management, and product operating model design. Her team works with super funds, fund managers, and investment platforms across Australia.
Connect with Sarah on LinkedIn (https://www.linkedin.com/in/sarahpennau/)
Follow Mayflower Consulting on LinkedIn (https://www.linkedin.com/company/mayflowerconsulting/)
Visit Mayflower Consulting website (https://mayflower.com.au)
Neil Benson
Neil Benson is the global chief product officer at ChandlerCX, where he leads a team focused on intelligent customer messaging for regulated organisations, including superannuation funds, banks, insurers, utilities and public sector organisations. His AI startup, Novagentic, was acquired by ChandlerCX in February 2026.
Connect with Neil on LinkedIn (https://linkedin.com/in/neilbenson)
Follow ChandlerCX on LinkedIn (https://www.linkedin.com/company/chandlercx)
Visit ChandlerCX website (https://chandler.com.au)
Mentioned in this episode:
Chandler CX Digital Forms
You know that eight-page PDF form that scares off half your members before they finish page two? We turn it into a smart, mobile-first digital form. Prefilled, validated in real time, signed on the spot and straight through processed into your registry.
https://www.chandler.com.au/cx-receive/receive
ChandlerCX (https://thatsupershow.captivate.fm/chandlercx)
