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Showing 411 - 420 of 1253 results for "Prudential"

Property risks dip at Coalition win, APRA easing

KANIKA SOOD  |  WEDNESDAY, 22 MAY 2019
... get a boost from APRA's announcement that it was looking at relaxing lending requirements for mortgage lending. The prudential regulator currently asks authorised deposit-taking institutions (ADIs) to use the higher of two metrics (7% interest floor ...

APRA flexes new muscles

HARRISON WORLEY  |  WEDNESDAY, 22 MAY 2019
... the group or risk facing a financial penalty. The move comes after IOOF breached a license condition imposed by the prudential regulator in December, when it failed to set up an OST by the 31 March deadline. Previously, APRA could only intervene in the ...

ASIC to strengthen complaints handling

ELIZABETH MCARTHUR  |  THURSDAY, 16 MAY 2019
... redress and the failure of firms to identify systemic complaints were key findings of both the Royal Commission and the Prudential Inquiry into the Commonwealth Bank. "With the benefit of broad consultation, ASIC's new standards will lift complaints ...

ANZ provides update on wealth sale

ELIZABETH MCARTHUR  |  MONDAY, 13 MAY 2019
... update does not change ANZ's position of continuing to monitor IOOF's response to matters raised by the Australian Prudential Regulation Authority (APRA) before making a decision about the final transfer of the business. This comes after IOOF breached ...

APRA amends member outcomes standard

KARREN VERGARA  |  THURSDAY, 2 MAY 2019
... Member Outcomes in Superannuation Measures No.1) Bill 2019, APRA is amending its strategic planning and member outcomes prudential standard (SPS 515). The four-week consultation period is underway and the new standard is scheduled to commence from 1 ...

Industry funds announce $26bn joint venture

KANIKA SOOD  |  WEDNESDAY, 1 MAY 2019
... To this end, about three and a half years ago, Equip applied for an extended public offer license to the Australian Prudential Regulatory Authority. The EPO license, which is central to the joint venture with $9.7 billion Catholic Super, permits it to ...

IOOF breaches APRA licence conditions

HARRISON WORLEY  |  FRIDAY, 26 APR 2019
... been to design the function "in a considered manner, with member outcomes central to its design and maintenance." The prudential regulator said it informed the three entities it is considering to issue direction to comply order. The completion date for ...

APRA grants ADI licence to Judo Bank

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 APR 2019
The Australian Prudential Regulation Authority has granted Judo Bank, formerly Judo Capital, a licence to operate as an authorised deposit-taking institution without restrictions in what is being welcomed as a win for banking competition and fintechs. ...

Fire drills needed to meet APRA standards

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 APR 2019
... new enforcement approach last week, setting out how it will use its enforcement powers to prevent and address serious prudential risks and hold entities and individuals to account. Amid this climate of tighter regulation, APRA is updating its information ...

Industry funds eye SMSF market stronghold

KARREN VERGARA  |  TUESDAY, 16 APR 2019
... January 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 ...