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Showing 111 - 120 of 204 results for "Prudential Standard"

Renewed calls for risk-adjusted returns

KARREN VERGARA  |  MONDAY, 12 AUG 2019
... question is whether a product is achieving its investment objectives." APRA's looming member outcomes prudential standard SPS 515, which takes effect from January 2020, expects trustees to clearly articulate and measure their performance across a ...

Westpac fined over reporting failure

ELIZABETH MCARTHUR  |  THURSDAY, 8 AUG 2019
APRA has handed Westpac the maximum financial penalty it can for failing to meet reporting obligations. Westpac and its subsidiaries St George Finance Holdings and Capital Finance Australia will pay more than $1.5 million after breaching requirements ...

Industry super fund adds director

HARRISON WORLEY  |  WEDNESDAY, 7 AUG 2019
A $2.6 billion industry superannuation fund appointed a former corporate super investment officer to its board. Following the departure of long-serving director Andrew Cooke, AvSuper has welcomed former Actuaries Institute president Geoff Burgess as ...

APRA proposes new remuneration standard

KARREN VERGARA  |  TUESDAY, 23 JUL 2019
APRA is introducing a new remuneration prudential standard for its regulated entities on the back of the Hayne Royal Commission's final recommendations. Draft prudential standard CPS 511 Remuneration is open for consultation until October 22. Chief ...

APRA sticks to rigid member outcomes deadline

KARREN VERGARA  |  FRIDAY, 12 JUL 2019
... meet the inaugural annual outcomes assessment, which is less than six months away. While consultation for prudential standard Strategic Planning and Member Outcomes (SPS 515) is underway, APRA has forewarned super funds that the proposed elements will ...

Associations raise member outcomes concern

KARREN VERGARA  |  FRIDAY, 21 JUN 2019
... is a disconnect between the law and APRA's expectations. APRA is busy working through submissions for Prudential Standard SPS 515 Strategic Planning and Member Outcomes, following a consultation period that ended on May 29. While Treasury Laws Amendment ...

Material weakness in super funds, insurers exposed

KARREN VERGARA  |  THURSDAY, 23 MAY 2019
... remuneration with prudent risk management outcomes and long-term financial soundness. APRA will consult on a new prudential standard on remuneration in mid-2019, Lonsdale said.

APRA amends member outcomes standard

KARREN VERGARA  |  THURSDAY, 2 MAY 2019
... Outcomes in Superannuation Measures No.1) Bill 2019, APRA is amending its strategic planning and member outcomes prudential standard (SPS 515). The four-week consultation period is underway and the new standard is scheduled to commence from 1 January ...

Fire drills needed to meet APRA standards

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 APR 2019
... broad set of challenges for super funds and other financial services firms. "The actual clauses within the prudential standard are open for interpretation rather than a very prescriptive approach," Howard said. "Our findings are that for those companies ...

Industry funds eye SMSF market stronghold

KARREN VERGARA  |  TUESDAY, 16 APR 2019
... 2020, funds will be required to undertake an annual member outcomes assessment under the recently released Prudential Standard SPS 515. This is based on: net investment returns, fees and operating costs, cost of insurance, net cash flows, outflow ratios ...