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Showing 121 - 130 of 2121 results for "APRA"

Superannuation changes limit tax benefits for top earners: ASFA

ANDREW MCKEAN  |  FRIDAY, 21 APR 2023
... risk and providing coverage to a broader range of members, especially those who are most in need in Australia. According to APRA statistics, in 2021, approximately 8.6 million Australians had death cover, while around 7.7 million had total permanent ...

APRA consults on approach to combining product histories

JAMIE WILLIAMSON  |  THURSDAY, 20 APR 2023
APRA is consulting on the need for it to make individual determinations for lifecycle MySuper products for which performance histories are required to be combined for the YFYS test. Currently, the performance test involves two situations where performance ...

TAL, AIA dominate group life market

ANDREW MCKEAN  |  WEDNESDAY, 19 APR 2023
According to the latest data on life insurance claims and disputes from APRA and ASIC, TAL is the largest player in the group insurance sector in Australia. TAL leads the life insurance market, boasting a 40.4% market share, insuring 3.9 million lives ...

APRA defers CPS 230 introduction

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
APRA is pushing back the implementation of its new operational risk management standard following industry feedback. Prudential Standard CPS 230 Operational Risk Management (CPS 230) was initially intended to take effect 1 January 2024 but will now ...

YFYS recommendations not enough: AIST

JAMIE WILLIAMSON  |  THURSDAY, 6 APR 2023
... products from this year broadens the scope of scrutiny, it was not unexpected and falls short of our position that that all APRA-regulated accumulation products should be tested, including poorly performing Choice products. "Without this, the members ...

Consumer interests prioritised in YFYS review

ANDREW MCKEAN  |  WEDNESDAY, 5 APR 2023
... remain "shielded" from assessment, including all products in the deaccumulation phase. ISA called on the government to test al APRA regulated funds, including those in the retirement phase. "All members deserve to know if their fund is a dud, including ...

APRA investigates NobleOak capital adequacy breach

KARREN VERGARA  |  FRIDAY, 31 MAR 2023
The prudential regulator is taking action against NobleOak Life for breaching its capital adequacy obligations. APRA said this morning that it will investigate the ASX-listed company's compliance process that led to breaches of capital adequacy requirements ...

Retail super fund pulls the plug

ANDREW MCKEAN  |  WEDNESDAY, 29 MAR 2023
... said: "Elevate needs to raise FUM and revenue very quickly to survive a competitive landscape. With the regulator's [APRA's] rhetoric focusing on less funds in the marketplace rather than more funds, it is a brave time to launch a new personal product." ...

We need to be ready: APRA

CASSANDRA BALDINI  |  WEDNESDAY, 29 MAR 2023
APRA is looking to further safeguard Australia's banking system following recent global events, warning economic ripple effects can still be felt across the pond. In an address on Tuesday, APRA chair John Lonsdale said no matter how resilient the ...

NGS Super suffers cyber-attack

JAMIE WILLIAMSON  |  MONDAY, 27 MAR 2023
... hardcopy versions of their response plans on hand, and cyber-attack drills should be carried out regularly. Representatives from APRA, ASIC and the ATO have also noted cybersecurity as an area of priority for the regulators. At the recent Association ...