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

Search Results

Showing 201 - 210 of 522 results for "Powers"

APRA clarifies super fund acquisition process

KARREN VERGARA  |  TUESDAY, 16 JUL 2019
... clarified the timing of changes in a director or service provider that may be covered in the application. APRA's new powers, which form part of the Improving Accountability and Member Outcomes in Superannuation Measures No. 1) Act 2019.

Chief economist update: Iron ore on the up and up

BENJAMIN ONG  |  MONDAY, 1 JUL 2019
... Washington's increased tariffs on imports from China has had deleterious effects on the Chinese economy. So much so the powers in Beijing have resorted to both fiscal and monetary policy stimulation to mitigate the downdraft from trade. One illustration ...

ASIC product intervention to commence

JAMIE WILLIAMSON  |  THURSDAY, 27 JUN 2019
ASIC has initiated consultation on new powers allowing it to intervene where it feels financial products have caused or are likely to cause consumer detriment. Under new product intervention powers, ASIC will be able to take action against financial ...

AMP Super, board slapped with licence conditions

KARREN VERGARA  |  FRIDAY, 14 JUN 2019
... Financial Services Industry," the prudential regulator said. This is the second instance APRA has flexed its new regulatory powers. It imposed licence conditions on IOOF in April for failing to establish a dedicated superannuation trustee function by ...

Retail clients win under new ASIC powers: Lawyers

KARREN VERGARA  |  TUESDAY, 28 MAY 2019
ASIC's new intervention powers - which ultimately aim to protect retail clients - will impose significant regulatory and compliance obligations on product issuers and manufacturers, lawyers warn. A white paper by law firm Hall & Wilcox highlights the ...

APRA flexes new muscles

HARRISON WORLEY  |  WEDNESDAY, 22 MAY 2019
APRA has invoked its new powers for the first time, directing IOOF and its superannuation entities to implement and maintain an Office of the Superannuation Trustee (OST) within the group or risk facing a financial penalty. The move comes after IOOF ...

Chief economist update: RBA May cut, May not

BENJAMIN ONG  |  FRIDAY, 3 MAY 2019
... the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia and that the powers of the Bank... are exercised in such a manner as, in the opinion of the Reserve Bank Board, will best contribute to: the ...

Industry funds announce $26bn joint venture

KANIKA SOOD  |  WEDNESDAY, 1 MAY 2019
... superannuation fund mergers. When the final report came out in February, one of the recommendations was for APRA to be given powers to oversee stalled mergers.

Fire drills needed to meet APRA standards

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 APR 2019
... strength of their systems. APRA released its new enforcement approach last week, setting out how it will use its enforcement powers to prevent and address serious prudential risks and hold entities and individuals to account. Amid this climate of tighter ...

Superannuation mergers strike oligopoly fears

KARREN VERGARA  |  TUESDAY, 23 APR 2019
... the superannuation industry will become an oligopoly like the banking sector is being fuelled by the regulators' new powers and increased funding, specifically aimed at forcing underperforming funds to merge or shut down. Of the $400 million ASIC ...