Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 7 of 7 results for "Operational Risk Financial"

OnePath Custodians fined $11m for MySuper failures

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... identifying and remediating all impacted members and allocating additional resourced to replenish its Operational Risk Financial Requirement to 0.25% of funds under management, $40 million of which will be held as an overlay until all terms of the undertaking ...

APRA proposes updated operational risk financial requirements

ANDREW MCKEAN  |  TUESDAY, 20 FEB 2024
The Australian Prudential Regulation Authority (APRA) has proposed changes to operational risk financial requirements for registrable superannuation entities (RSE) licensees. The prudential regulators adjustments are designed to bolster the ability ...

AustralianSuper to refund 100k members

CHLOE WALKER  |  FRIDAY, 12 MAY 2023
... increase administration fees to pay for this, with the cost of the remediation to be paid from the fund's operational risk financial reserve," it said. "In addition, we have strengthened our process around managing multiple accounts for all members to ...

APRA proposes safeguards against risk events in super

ANDREW MCKEAN  |  TUESDAY, 15 NOV 2022
APRA has proposed to replace the existing Prudential Standard SPS 114 Operational Risk Financial Requirement (SPS 114) with enhanced obligations for trustees, to improve how they manage financial resources to protect fund members from poor operational ...

APRA questions trustees on financial resilience

CHLOE WALKER  |  MONDAY, 22 NOV 2021
... systems upgrades, corporate restructures or paying fines. APRA is seeking feedback on the use of the operational risk financial requirement (ORFR), reserving practices, and protections afforded to trustees via insurance, and how these might need to adapt ...

Australian Ethical further reduces super fees

DARREN SNYDER  |  FRIDAY, 24 JUN 2016
... fees charged to super members will reduce by 0.22%. Of that amount, 0.07% is a reduction of the fund's operational risk financial requirement levy. The funds under management-based revenue margin has been adjusted to 1.24%, down from 1.74% in the 2015 ...

Think big on scale, ORFR: APRA

MELANIE TIMBRELL  |  TUESDAY, 21 AUG 2012
... consultation process and subsequent public forums, APRA's deputy chair Ross Jones said his advice on both the Operational Risk Financial Requirement (ORFR) and the scale test was for funds to keep the spirit of the reform in perspective. Many submissions ...
PAGE:
1