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Showing 21 - 30 of 35 results for "Prudential Standard SPS"

APRA floats insurance in super change

HARRISON WORLEY  |  MONDAY, 25 NOV 2019
... interests of members. The prudential regulator has released a consultation paper on its proposed changes to Prudential Standard SPS 250 Insurance in Superannuation (SPS 250), responding directly to two of the recommendations of Royal Commissioner Kenneth ...

Super trustees must do better: Byres

HARRISON WORLEY  |  FRIDAY, 20 SEP 2019
... Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No 1) Bill 2019 and the new prudential standard SPS 515 Strategic Planning and Member Outcomes. The combination of the two will embolden APRA in its mission to "drive ...

APRA slaps traffic light ratings on super funds

KARREN VERGARA  |  TUESDAY, 3 SEP 2019
... its new directions power to protect the interests of superannuation members." Separately, APRA confirmed Prudential Standard SPS 515 Strategic Planning and Member Outcomes would require all RESs to perform APRA's annual Business Performance Review ...

Renewed calls for risk-adjusted returns

KARREN VERGARA  |  MONDAY, 12 AUG 2019
... question is whether a product is achieving its investment objectives." APRA's looming member outcomes prudential standard SPS 515, which takes effect from January 2020, expects trustees to clearly articulate and measure their performance across a ...

Associations raise member outcomes concern

KARREN VERGARA  |  FRIDAY, 21 JUN 2019
... a disconnect between the law and APRA's expectations. APRA is busy working through submissions for Prudential Standard SPS 515 Strategic Planning and Member Outcomes, following a consultation period that ended on May 29. While Treasury Laws Amendment ...

Industry funds eye SMSF market stronghold

KARREN VERGARA  |  TUESDAY, 16 APR 2019
... 2020, funds will be required to undertake an annual member outcomes assessment under the recently released Prudential Standard SPS 515. This is based on: net investment returns, fees and operating costs, cost of insurance, net cash flows, outflow ratios ...

APRA unveils new prudential measures

KARREN VERGARA  |  WEDNESDAY, 12 DEC 2018
... in their strategic and business planning." Part of the package includes three new prudential standards: Prudential Standard SPS 515 Strategic Planning and Member Outcomes; Prudential Practice Guide SPG 515 Strategic and Business Planning; and Prudential ...

APRA to reopen old wounds for CBA, IOOF

KARREN VERGARA  |  WEDNESDAY, 5 SEP 2018
... Suncorp Portfolio Services Limited (SPSL) case study - which may not be consistent with the requirements of Prudential Standard SPS 231 Outsourcing. Maurizio Pinto, the executive manager of the office of the superannuation trustee within SPSL, had to ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... SLSL nor did it take into account the arrangement was commercial and at arm's length; Contravened Prudential Standard SPS 231 (outsourcing) by failing to ensure SPSL could demonstrate the outsourcing arrangement with SLSL is conducted on an arm's ...

Cash is cash, APRA tells super funds

KANIKA SOOD  |  MONDAY, 2 JUL 2018
... product will be readily accessible (for withdrawal or transfer) without change in value," it said citing prudential standard SPS 530 Investment Governance. In some cases the reverse was observed, where a fund's investment policy framework permitted ...