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Showing 111 - 120 of 196 results for "Prudential Standard"

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 ...

APRA to boost staff numbers

HARRISON WORLEY  |  FRIDAY, 12 APR 2019
APRA has confirmed it will hire around 100 more permanent staff after its funding boost. In a planned statement to the Senate Economics Legislation Committee, APRA chair Wayne Byres revealed the prudential regulator is looking to hire 100 more permanent ...

APRA warns trustees on expectations

ELIZABETH MCARTHUR  |  THURSDAY, 28 MAR 2019
... compliance with the sole purpose test has been brought into question. APRS also reminded trustees that its new prudential standard PS 515 Strategic Planning and Member Outcomes becomes effective from January 2020; "Trustees should now be drawing up plans ...

Royal Commission will guide remuneration standard: APRA

DARREN SNYDER  |  WEDNESDAY, 20 MAR 2019
What APRA learned from its prudential inquiry into Commonwealth Bank, and the Royal Commission, will help shape its updated and soon-to-be released standard on remuneration. APRA executive general manager, policy and advice, Pat Brennan told an industry ...

APRA sets sights on 2019 targets

HARRISON WORLEY  |  FRIDAY, 1 MAR 2019
... will further strengthen our prudential requirements on executive remuneration, with consultation on a revised prudential standard due to start mid-year. We will also review our cross industry governance and risk management standards this year to ensure ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Royal Commission final report recommends the roles of ASIC and APRA be adjusted when it comes to superannuation oversight. A new independent body will also oversee the regulators. Releasing his final report into Misconduct in the Banking, Superannuation ...

ANZ, IOOF revise wealth sale agreement

JAMIE WILLIAMSON  |  TUESDAY, 15 JAN 2019
The sale of ANZ's pensions and investments business may take longer than anticipated with contracts now amended following APRA's regulatory action against IOOF. Providing a further update on the sale, ANZ said it has agreed an amendment with ...

APRA unveils new prudential measures

KARREN VERGARA  |  WEDNESDAY, 12 DEC 2018
... reflected in their strategic and business planning." Part of the package includes three new prudential standards: Prudential Standard SPS 515 Strategic Planning and Member Outcomes; Prudential Practice Guide SPG 515 Strategic and Business Planning; and ...

APRA takes action against IOOF

HARRISON WORLEY  |  FRIDAY, 7 DEC 2018
APRA is seeking to impose license conditions on IOOF and disqualify several of the firm's executive leaders. In a media release this morning, APRA said it had commenced proceedings in the Federal Court of Australia. It seeks to disqualify five individuals ...