Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 411 - 420 of 1819 results for "APRA."

APRA removes Westpac liquidity add-on

CASSANDRA BALDINI  |  THURSDAY, 1 SEP 2022
APRA has removed Westpac's liquidity add-on after finding it breached prudential standards. The 10% add-on was applied to the net cash outflow component of Westpac's liquidity coverage ratio (LCR) and will no longer be included from today. In a statement ...

Four MySuper products fail for second time: APRA

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
Five MySuper products have failed the second annual MySuper performance test, with four of them failing for a second time. The product that failed this year's performance test for the first time is Westpac Group Plan MySuper. Westpac must now identify ...

The unintended consequences of the performance test

JAMIE WILLIAMSON  |  TUESDAY, 30 AUG 2022
While the annual Your Future, Your Super performance test is focused on stamping out underperformance, its impact on industry consolidation is likely already shifting, according to KPMG. The results of the second annual performance test are expected ...

Vanguard granted RSE licence

JAMIE WILLIAMSON  |  FRIDAY, 26 AUG 2022
Vanguard expects to launch its product before the end of the year, having been handed a registrable superannuation entity licence. APRA granted a new RSE licence to Vanguard Super Pty Ltd, the trustee of Vanguard Super, yesterday. In an update, Vanguard ...

A strong super system cushions the economy: ISA

ANDREW MCKEAN  |  THURSDAY, 25 AUG 2022
An Industry Super Australia (ISA) report has called the pool of national savings created by the super system a key strength of the Australian economy and the envy of the world. According to the report, in periods of economic uncertainty and market volatility ...

ASIC highlights strategic priorities

CASSANDRA BALDINI  |  TUESDAY, 23 AUG 2022
ASIC has released its corporate plan, outlining strategic priorities and its course of action for the next four years, with a particular focus on the retirement sector. The regulator highlighted four strategic priorities. One of its primary focuses ...

Equity Trustees confirms AET acquisition

CASSANDRA BALDINI  |  MONDAY, 22 AUG 2022
Equity Trustees has announced it will acquire Insignia Financial's Australian Executor Trustees (AET) for $135 million. Following last week's market speculation, a statement said the acquisition will deliver significant growth for EQT, adding ...

QIC braces against recession risks

ELIZABETH FRY  |  FRIDAY, 12 AUG 2022
As the manager of the Queensland government's long-term financial interests and a quasi-sovereign wealth fund, QIC can avoid the painful APRA performance test. This is a tremendous advantage for Allison Hill, QIC's state chief investment officer ...

Commonwealth Bank profit nears $10bn

CASSANDRA BALDINI  |  WEDNESDAY, 10 AUG 2022
Commonwealth Bank (CBA) reported its cash net profit has risen 11% to $9.6 billion and its net profit increased 9% to $9.7 billion since last year. The banking giant said home loans, up 7.4%, contributed to the strong earnings as well as growth in core ...

APRA releases annual corporate plan

CASSANDRA BALDINI  |  MONDAY, 8 AUG 2022
APRA published its updated plan to reinforce the financial soundness of the banking, insurance and superannuation industries over the next four years, with few surprises on offer. The priorities in APRA's new Corporate Plan for 2022-2023 are based ...