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Showing 281 - 290 of 1253 results for "Prudential"

Westpac enters into court enforceable undertaking

ANNABELLE DICKSON  |  THURSDAY, 3 DEC 2020
Following the Australian Prudential Regulation Authority's (APRA) review into Westpac's risk governance, both parties have agreed to a court enforceable undertaking (CEU). The CEU requires Westpac to develop an integrated plan that incorporates ...

New internal audit guide for finance sector

KARREN VERGARA  |  WEDNESDAY, 2 DEC 2020
... executives and the board and communicated throughout the organisation. IIA chair Sandra Birkensleigh said after APRA's prudential inquiry into the Commonwealth Bank, it was clear that internal audits could play a role in governance structures. "In ...

APRA takes action against Westpac

JAMIE WILLIAMSON  |  TUESDAY, 1 DEC 2020
The prudential regulator has launched action against Westpac over material breaches of liquidity standards. The breaches, which were identified during 2019 and 2020, relate to the incorrect treatment of specific funding and loan products for the purposes ...

Life insurance performance plummets

ANNABELLE DICKSON  |  FRIDAY, 27 NOV 2020
... insurance industry has continued to take a hit to profit, with risk products reporting significant losses. The Australian Prudential Regulation Authority's (APRA) latest quarterly life insurance performance statistics paint a bleak picture with net profit ...

ClearView streamlines underwriting

KARREN VERGARA  |  WEDNESDAY, 25 NOV 2020
... while pursuing long-term sustainable growth," Lowe said. Other life insurers that have adopted ALLFINANZ Cloud are Prudential Thailand, Generali Indonesia, Hong Leong Malaysia and FT Life Hong Kong. US technology firm Omniscience announced in April that ...

APRA reduces CBA capital requirement

ANNABELLE DICKSON  |  FRIDAY, 20 NOV 2020
The Australian Prudential Regulation Authority (APRA) has made the decision to reduce Commonwealth Bank's additional capital requirement by half after improving governance concerns. The $1 billion capital add-on has been halved to $500 million with ...

APRA eases hard caps in revamped executive pay

KANIKA SOOD  |  THURSDAY, 12 NOV 2020
... conduct modifier that can potentially reduce variable remuneration to zero, APRA said in the revised draft for the Prudential Standard CPS 511 Remuneration (revised CPS 511). The non-financial measures (like potential detriment to consumers) were a focus ...

Retail super offerings in successor fund transfer

JAMIE WILLIAMSON  |  MONDAY, 2 NOV 2020
... Nextplan YourChoice Super. Notifying members of the various plans, Diversa said it has been working with the Australian Prudential Regulation Authority (APRA) to ensure they funds have sufficient scale. "There have been a number of regulatory changes ...

Ask and you shall receive

ELIZA BAVIN  |  MONDAY, 26 OCT 2020
... reveals that 98% of applications received by the Australian Taxation Office (ATO) have been paid out by funds. The prudential regulator said that as at October 18, 98% of the applications received since the scheme's inception has been paid. The ERS scheme ...

QInsure ramps up claims technology

KARREN VERGARA  |  THURSDAY, 22 OCT 2020
... Phil Fraser said: "We will be working closely with FINEOS under this heads of agreement to ensure APRA (Australian Prudential Regulation Authority) is supportive of our approach." Fraser commented that the partnership continues to grow and that the super ...