They do, but there is new legislation which places very stringent rules around conflicts of interest and fit and proper persons (not just targeting unions, but all super funds). This seems a pretty clear cut conflict of interest here (from the Super funds perspective, where a Director must act in the best interest of members).Can you explain why this is an actionable issue when Industry Super exists in part of ensure the ongoing viability of the union movement (my understanding is the union movement essentially controls the board of every industry super fund)?
This came in recently in the UK and the head of one of their big funds was sent packing because he knowingly mis-used his Oyster card!