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Showing 71 - 80 of 2117 results for "APRA"

Aware Super, Challenger partner for DB solution

JAMIE WILLIAMSON  |  WEDNESDAY, 26 JUL 2023
... Damian Graham saying reducing the risk of future pensions is critical in the current inflationary environment. According to APRA, Aware Super has about 5800 total defined benefit members, as at June 2022 - less than 1% of its 1.2 million-strong membership. ...

APRA toughens stress testing frequency, valuation stance

KARREN VERGARA, RACHEL ALEMBAKIS  |  FRIDAY, 21 JUL 2023
... fracas over valuations in the property sector. In updating Prudential Practice Guide SPG 530 Investment Governance (SPG 530), APRA expects trustees to consider the benefits arising from more frequent stress testing beyond the annual requirement. This ...

Regulators begin FAR consultation

CHLOE WALKER  |  THURSDAY, 20 JUL 2023
APRA and ASIC have commenced an early consultation on the Financial Accountability Regime (FAR), calling for input from ADIs, insurers and super trustees. Together, the regulators have released key materials for consultation to support the timely implementation ...

APRA finalises operational risk prudential standard

ANDREW MCKEAN  |  TUESDAY, 18 JUL 2023
APRA has finalised Prudential Standard CPS 230 Operational Risk Management, which aims to enhance the ability of banks, insurers, and superannuation trustees to manage operational risks and respond to business disruptions. According to QMV legal, the ...

Trustees lack urgency, strategy on RIC: Regulators

KARREN VERGARA  |  TUESDAY, 18 JUL 2023
... business plans. One year since the Retirement Income Covenant took effect, a joint examination of 15 trustees by ASIC and APRA reveals that not only are super funds dragging their feet in implementing the covenant, but there is also a lack of quality ...

FRAA provides roadmap for improved super regulation by APRA

ANDREW MCKEAN  |  FRIDAY, 14 JUL 2023
The Financial Regulator Assessment Authority (FRAA) has affirmed the effectiveness of APRA in superannuation supervision, while identifying underdevelopment in the regulator's resolution function. The FRAA tabled five recommendations for APRA to enhance ...

Diversa loses key super fund mandate

JAMIE WILLIAMSON  |  THURSDAY, 13 JUL 2023
... to HUB24 Super, citing members' best interests. That same month it was slapped with additional licence conditions by APRA, which was concerned with Diversa's ability to manage risks and deliver quality outcomes to members, and was fined by ASIC ...

Equipsuper adds board director

ELIZABETH FRY  |  TUESDAY, 11 JUL 2023
... mid-market infrastructure firm's top dealmakers. Even earlier, he worked for the Insurance and Superannuation Commission, now APRA. Equipsuper chair Danny Casey welcomed Widdup to the board. "Julian brings a wealth of experience across many large ...

Retirees to own 55% of all super come 2032: Rainmaker

CHLOE WALKER  |  TUESDAY, 11 JUL 2023
... super funds - continue, within a decade this ratio will climb to 55%, on its way to 70% or more by 2042. The FUM ratio for APRA-regulated funds is 26% or about $1.8 trillion by 2032. Currently, they own about $625 billion. "If superannuation savings ...

abrdn's Jollie outlines next steps

ELIZABETH FRY  |  FRIDAY, 7 JUL 2023
... management industries. This starts with the continued consolidation of the superannuation sector. "There are approximately 145 APRA-regulated funds today and this is expected to contract significantly, down to somewhere between 10 and 50 funds in the ...