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Showing 321 - 330 of 1819 results for "APRA."

Treasury mandates APRA consider climate risks in duties

RACHEL ALEMBAKIS  |  FRIDAY, 9 JUN 2023
Treasury has released an updated statement of expectations for APRA which includes the adoption of climate reporting standards by super funds, banks and insurers. "For the first time, the government is explicit in requiring the regulator to consider ...

SMSFs continue to fly solo

KARREN VERGARA  |  WEDNESDAY, 7 JUN 2023
Self-managed super fund trustees continue to shun the services of financial advisers despite the fact many concede they need expertise on regulation changes and investments. This is according to the latest Vanguard and Investment Trends 2023 SMSF Report ...

Heatmaps drive efficiencies, more consolidation: Cole

CHLOE WALKER  |  FRIDAY, 2 JUN 2023
Speaking at a standing committee this morning, deputy chair Margaret Cole noted that the heatmaps and performance tests have created a more efficient and transparent superannuation system that will ultimately drive more consolidation. While that might ...

APRA probes super fund payments to unions

ANDREW MCKEAN  |  THURSDAY, 1 JUN 2023
During a Senate Economics Committee session yesterday, it was revealed that APRA is investigating the financial relationships between superannuation funds and unions. APRA deputy chair Margaret Cole confirmed the regulator's ongoing scrutiny into certain ...

Bank of Queensland slapped with EU

CASSANDRA BALDINI  |  WEDNESDAY, 31 MAY 2023
APRA and AUSTRAC have agreed to a court enforceable undertaking (CEU) following weakness in the bank's risk management and money laundering controls. APRA said it's acted following several beaches or its prudential standards and a review that ...

Treasury proposes upping supervisory levies

ANDREW MCKEAN  |  FRIDAY, 26 MAY 2023
Treasury has proposed a 1.5% increase in the Financial Institutions Supervisory Levies for the 2023-24 financial year, including a $7.2 million budgetary boost for APRA. Treasury papers revealed the total funding required under the levies in 2023-24 ...

MySuper inches to $1tn

KARREN VERGARA  |  WEDNESDAY, 24 MAY 2023
MySuper assets have reached a new high of $964.5 billion thanks to the mandatory increase in superannuation contributions and market recovery. The year to March saw MySuper assets grow 5.1% to surpass the previous high reached in December 2021 of $947 ...

APRA finalises rules for financial crisis readiness

ANDREW MCKEAN  |  FRIDAY, 19 MAY 2023
Finalising new prudential standards, APRA is aiming to bolster banks, insurers, and superannuation trustees' resilience against future financial crises. APRA hopes the new standards will equip these financial entities with strategies to counteract threats ...

Super funds must prioritise member experience: Consultant

ANDREW MCKEAN  |  WEDNESDAY, 17 MAY 2023
A global technology and HR consultancy is urging superannuation funds to shift to experience-led organisations, amid changing member expectations. Bharat Bathi, the lead of Wipro HR Services' retirement services division, says "it's not an option ...

Hostplus surpasses $100bn in FUM

CHLOE WALKER  |  WEDNESDAY, 17 MAY 2023
Hostplus says the growth has been driven by a combination of mergers and strong member growth. According to APRA data, as of June 2022 the fund had about $82.5 billion in FUM. Less than 12 months later, it has tipped over $100 billion, held on behalf ...