Unlicensed telemarketers who cold-call Australians to convince them to switch superannuation providers will face licensing requirements under government reforms announced on Wednesday.

Assistant Treasurer Daniel Mulino is set to unveil the regulatory package at the National Press Club following the collapse of the Shield and First Guardian funds, which left 12,000 people with losses exceeding $1 billion, according to ABC News reporting, Nassim Khadem reports for ABC business (AU).