Super Alert – 24 July 2026: Lost Super Enquiry guidance, ASIC announces record enforcement period in 2025-26

Welcome to the weekly KHQ Super Alert. This week, the ATO published guidance for funds dealing with lost superannuation enquiries, and Parliament registered amending regulations impacting the division of superannuation interests in the family law context. Meanwhile, ASIC announced record civil penalty orders for the 2025-26 financial year.

ATO – Lost Super Enquiry guidance published

On 22 July 2026, the ATO published guidance for superannuation trustees that receive a Lost Super Enquiry (LSE) email from the ATO. An LSE is issued when the ATO receives an enquiry about the superannuation of a deceased individual from a relative or executor who does not hold a grant of probate or letters of administration.

The ATO provides trustees with the contact details of the person making the enquiry so the trustee can consider whether they are able to assist in identifying and reuniting potential beneficiaries with superannuation benefits they may be entitled to claim.

The ATO guidance notes:

• LSE emails are not a formal notification of death as the ATO does not verify or confirm the accuracy of the applicant’s statement regarding the member being deceased;
• the ATO cannot confirm if the person(s) are valid beneficiaries through this process;
• the relevant legislation prevents the ATO from telling the applicant if any relevant super accounts exist;
• the applicant will not know if the ATO has sent an LSE email to a fund; and
• the ATO recently updated its LSE template to advise funds when an applicant has informed it that a member is deceased. The ATO intends to help funds decide what support they may be able to offer to family members and potential beneficiaries.

Once an LSE has been issued, the ATO has no visibility of, or involvement in, any subsequent action taken by the trustee.

Click here for details.

Parliament – Amending regulations for the division of superannuation interests registered

On 22 July 2026, the Family Law (Superannuation) Amendment (2026 Measures No. 1) Regulations 2026 (Amending Regulations) were registered on the Federal Register of Legislation. The Amending Regulations amend the Family Law (Superannuation) Regulations 2025 (Principal Regulations) by providing the ability for the Minister to issue a written direction to a trustee of a superannuation fund under the Family Law Amendment Act 2024.

The Amending Regulations ‘prescribe the requirements for issuing and responding to a direction to ensure that the approved methods or factors used for valuing superannuation interests are reviewed by trustees and updated as needed to ensure they produce reasonable valuations of superannuation interests for family law purposes.’

In addition, the Amending Regulations introduce six minor and technical amendments to the Principal Regulations to improve the clarity and operation of the family law superannuation splitting regime.

Click here and here for details.

ASIC – ASIC announces record enforcement period in 2025-26

On 20 July 2026, ASIC published a media release announcing that the regulator’s enforcement action resulted in $830 million in civil penalties being imposed by the courts from July 2025 to June 2026, with $643.5 million to be paid back to customers and investors as part of remediation refund and compensation processes.

In the period from January 2026 to June 2026 alone, ASIC has secured court orders totalling $480 million in civil penalties against major superannuation trustees, banks and other financial institutions.

According to ASIC Chair Sarah Court, ASIC will continue to pursue cases that expose serious failures in systems, governance and conduct, ranging from scams and hardship failures to market infrastructure, superannuation, private credit, financial reporting, and digital assets.

Click here for details.