'Discretionary compensation - As one of the benefits available to SuperGuard360 registered funds, Professional Standards Mutual Pty Ltd (PSM) may, in its absolute discretion, enter into arrangements with registered funds that have suffered certain losses in the value of the assets of their self-managed superannuation funds (SMSF) due to the misconduct of a person employed or engaged by the relevant product issuer or other associated party. These benefits will only be available in relation to losses on investments made by the SMSF after the date that the fund became registered and provided that at least 12 months has expired after PSM was first notified that the person holds the relevant investment. The relevant loss must be loss that was not caused or contributed to by the SMSF and for which the registered funds is unable to successfully obtain compensation for by mediation or any another other legal process, reasonably undertaken. Where such arrangements are entered into, PSM will fund any payment made to members in its discretion and gives no undertaking or representation that the extent of any payment will be equal to the total loss suffered. When exercising its discretion, PSM will take into account the specific circumstances of each registered fund and the extent of the losses suffered and seek to help registered funds who are worst affected by the relevant circumstances.'