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Showing 11 - 20 of 32 results for "New APRA"

Labor to push for YFYS stapling amendments

KANIKA SOOD  |  WEDNESDAY, 19 MAY 2021
... amendments that Labor will seek are across stapling. First, it wants the final legislation to turn on stapling only after the new APRA tests have removed dud funds from the system. Second, it wants the superannuation funds of members working in dangerous ...

Draft regulation on YFYS released

KANIKA SOOD  |  WEDNESDAY, 28 APR 2021
The government has conceded to industry demands on administration fees and unlisted assets' treatment in the new APRA performance tests, as it finally releases draft regulation for the Your Future, Your Super reforms. It has agreed to include administration ...

QSuper pokes holes in YFYS legislation

KANIKA SOOD  |  FRIDAY, 26 MAR 2021
... the limitations of APRA's new performance measures for superannuation funds. Treasury in October 2020 introduced new APRA benchmarking for superannuation funds, which would cut inflows of new member funds to any super funds than fail the test two ...

Super funds to answer to new APRA enforcer

ELIZA BAVIN  |  FRIDAY, 19 MAR 2021
APRA has announced the appointment of Margaret Cole as a new member, focused on enforcement of the superannuation sector. Announcing the appointment, Treasurer Josh Frydenberg said Cole has extensive experience in regulatory and legal fields across ...

RSE trustee board composition evolving

KANIKA SOOD  |  MONDAY, 1 FEB 2021
... directors have gone from holding 5.2% of the total board positions at RSE licensees to 10.7% of them as at June 2020, says new APRA data. The total directorships at responsible superannuation entity licensees shrunk 22.7% from 1093 positions at June ...

APRA highlights heatmaps success

ELIZABETH MCARTHUR  |  WEDNESDAY, 14 OCT 2020
... Commission, one of APRA's objectives was to drive super trustees to deliver quality outcomes for members. This drove several new APRA initiatives, including the publication of the MySuper heatmaps. "Another major achievement during the year was the publication ...

Super reforms modest negative for AMP, IOOF: Credit Suisse

KANIKA SOOD  |  WEDNESDAY, 7 OCT 2020
... Link Group but have no impact on Netwealth and HUB24. The government is proposing to subject all MySuper products to a new APRA-administered annual test from July 2021 and all trustee-directed super products from July 2022. Funds that fall five percentage ...

Super industry cautious on more reform

ELIZABETH MCARTHUR  |  TUESDAY, 6 OCT 2020
... Loane said. "The government's commitment to implement an ATO portal to help consumers select a high performing fund, and new APRA powers to weed out chronic underperformance, is a long-overdue reform that clearly puts the interests of consumers first." ...

MySuper funds face new test, member bans

KANIKA SOOD  |  TUESDAY, 6 OCT 2020
Any MySuper products that fail a new APRA-administered annual test twice in a row will not be allowed to receive any new members until they improve their performance. The prudential regulator will conduct benchmarking tests on the net investment performance ...

New Year, new APRA

ALLY SELBY  |  FRIDAY, 20 DEC 2019
Like many of us do nearing the end of the year, APRA has taken time for some self-reflection and assessment, identifying three areas it needs to work on next year. APRA has released its 2018/19 self-assessment report to review its key performance indicators ...