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Showing 31 - 40 of 196 results for "Prudential Standard"

Industry funds defend CFMEU board ties

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
... requirements of the SIS Act, Corporations Act, Australian Financial Services Licence obligations, and Superannuation Prudential Standard 520 Fit and Proper (CPS250). "We have robust procedures for ongoing probity checks and all current BUSSQ board directors ...

APRA heightens expectations around trustees' spending

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
... clearer focus on superannuation members' interests when it comes to fund expenditure. The regulator updated Prudential Standard SPS 515 Strategic Planning and Member Outcomes and its related guidance to "ensure members' interests are front-and-centre ...

APRA: RSE licensees show 'common areas of weakness'

ELIZA BAVIN  |  FRIDAY, 28 JUN 2024
... initial observations from its targeted thematic review of the superannuation industry's preparedness for Prudential Standard CPS 190 Recovery and Exit Planning (CPS 190). For RSE licensees, CPS 190 will come into effect from 1 January 2025 and the ...

Trustee boards fail to challenge unlisted valuations: APRA

JAMIE WILLIAMSON  |  THURSDAY, 20 JUN 2024
... APRA also found that some RSEs were not valuing their unlisted assets at least quarterly, as required under Prudential Standard SPS 530 Investment Governance. This was the case particularly for private equity holdings, with 14 RSEs failing to review ...

APRA updates industry on operational resilience guidance

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
... Practice Guide CPG 230 Operational Risk Management (CPG 230) is designed to assist in the implementation of Prudential Standard CPS 230 Operational Risk Management (CPS 230), which was finalised in July last year and takes effect from 1 July 2025. APRA ...

Super pool jumps to $3.9tn

KARREN VERGARA  |  WEDNESDAY, 29 MAY 2024
... activities assessing trustees' policies, processes, and practices in delivering good member outcome to enforce Prudential Standard CPS 230 Operational Risk Management, and transparency in administering the legislated performance test and heatmaps. ...

APRA hits Mercer with additional licence conditions

ELIZA BAVIN  |  TUESDAY, 28 MAY 2024
The Australian Prudential Regulation Authority (APRA) has imposed additional licence conditions on Mercer Super to ensure it addresses risk management and compliance management deficiencies identified by the regulator. The risk management and compliance ...

APRA 'continuing to monitor' UniSuper outage

JAMIE WILLIAMSON  |  THURSDAY, 9 MAY 2024
... delivered by Therese McCarthy Hockey in August of last year on the regulator's expectations in relation to Prudential Standard CPS 230 Operational Risk Management, which all APRA-regulated entities must comply with from 1 July 2025. In that speech ...

Bragg calls for another Financial System Inquiry, critiques ASIC, APRA

ANDREW MCKEAN  |  FRIDAY, 23 FEB 2024
Senator Andrew Bragg has called for another Financial System Inquiry (FSI) to address "structural problems" in the twin peaks of financial sector regulation, ASIC and APRA. In his speech to the Financial Services Council (FSC), Bragg argued that "clear ...

APRA proposes updated operational risk financial requirements

ANDREW MCKEAN  |  TUESDAY, 20 FEB 2024
... released a discussion paper on potential changes to operational risk financial requirements which are set out in Prudential Standard SPS 114 Operational Risk Financial Requirement (ORFR). The essence of the revisions was to ensure RSE licensees can better ...