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Showing 21 - 30 of 75 results for %22Prudential Inquiry%22

Regulators in Productivity Commission firing line

HARRISON WORLEY  |  THURSDAY, 10 JAN 2019
... Government to clarify each of ASIC and APRA roles and powers. According to the Productivity Commission, the corporate and prudential regulators suffer from "confusing and opaque" conduct regulation arrangements for the superannuation system, noting "significant ...

Industry dubious about one regulatory body: Survey

KARREN VERGARA  |  MONDAY, 10 DEC 2018
... enforcement are satisfactory. It was only in August 2017 that APRA set a precedent and decided to establish a prudential inquiry into CBA despite knowing about the group's deficiencies in governance, culture and accountability for some time, Hayne ...

CBA releases remediation scorecard

KANIKA SOOD  |  THURSDAY, 11 OCT 2018
... showing evidence of commitment. CBA was required to put together a remediation action plan after APRA led a prudential inquiry into the bank's governance, culture and accountability in August 2017. The APRA inquiry's final report made 35 recommendations ...

Banking remuneration practices to blame for misconduct

MICHELLE BALTAZAR  |  FRIDAY, 28 SEP 2018
... remuneration and the likelihood of misconduct. "Given the terms of reference for, and the resulting report of, the Prudential Inquiry into Commonwealth Bank, it would be surprising and cause for concern, if APRA's approach to prudential governance ...

Life insurers should fund medical rehabilitation: MLC

KANIKA SOOD  |  MONDAY, 21 MAY 2018
... responded to the PJC's call for submissions, including superannuation giants AustralianSuper and Cbus, the Australian Prudential Regulation Authority (APRA), and the Financial Services Council (FSC). AustralianSuper, which provides insurance to 1.4 ...

CBA enters APRA EU

JAMIE WILLIAMSON  |  TUESDAY, 1 MAY 2018
... operational risk management framework "worked better on paper than in practice." Releasing the final report of its prudential inquiry into CBA, the regulator said it identified a "complex interplay of organisational and cultural factors at work", demonstrating ...

CBA chair says culture needs improvement

ALEX BURKE  |  THURSDAY, 1 FEB 2018
In responding to APRA's ongoing prudential inquiry into the bank, Commonwealth Bank chair Catherine Livingstone acknowledged "there are aspects of our culture where we could improve." APRA issued an update on its progress with the inquiry, saying that ...

ASFA disappointed in Royal Commission scope

EMMA RAPAPORT  |  FRIDAY, 1 DEC 2017
... to Australia's $2.5 trillion superannuation system is regulatory overreach and strangulation in red tape, and that prudential standards must strike the right balance to allow the superannuation industry to thrive. "Every extra board paper at a superannuation ...

APRA names heavyweight panel to investigate CBA

EMMA RAPAPORT  |  FRIDAY, 8 SEP 2017
... pleased to have secured the services of three highly experienced and credentialed panel members to conduct the prudential inquiry." "Between them, John, Graeme and Jillian bring an excellent blend of skills and experience to the task, including in matters ...

APRA launches inquiry into CBA

EMMA RAPAPORT  |  MONDAY, 28 AUG 2017
... objectives, remuneration and accountability frameworks. APRA chairman Wayne Byres said the decision to initiate a prudential inquiry followed a number of issues which have raised concerns regarding the frameworks and practices, and have damaged the bank's ...