![''You've only got to look at the arithmetic,'' said former Reserve Bank governor Bernie Fraser.](/web/20170216130120im_/http://www.smh.com.au/content/dam/images/g/s/b/c/u/m/image.related.wideLandscape.620x349.gue6ho.png/1487227150833.jpg)
Fraser review rejects 'independence' quotas for industry super funds
A long-awaited review into the governance of industry super funds by former Reserve Bank governor Bernie Fraser has found no grounds for legislation that would force boards to have a minimum number of "independent" directors.