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Showing 31 - 40 of 204 results for "Prudential Standard"

Cbus faces fresh investigation over fund expenditure practices

ANDREW MCKEAN  |  TUESDAY, 11 FEB 2025
... requiring Cbus' trustee, United Super, to appoint an independent expert to review its compliance with Prudential Standard 520, which mandates all boards members of a super fund meet criteria of fitness and propriety, including demonstrating "character ...

Trustee valuation processes 'concerning': APRA review

JAMIE WILLIAMSON  |  TUESDAY, 17 DEC 2024
... values in the process. APRA has released the findings of its thematic review of trustees' implementation of Prudential Standard SPS 530 Investment Governance, which was updated in January 2023. The review involved assessing detailed responses and data ...

Cbus lacks stringent director, expenditure policies: Deloitte

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
... Further, Deloitte noted that Cbus' Fit and Proper Policy, which it designed to meet the requirements of Prudential Standard SPS 520, requires an annual declaration by board members that they: Have not been disqualified from acting as a trustee, officer ...

Link between super and banking major priority in 2025: APRA

ELIZA BAVIN  |  MONDAY, 11 NOV 2024
... outage, which impacted millions of Windows systems globally, and said it was an example of why APRA's new prudential standard on operational risk management, CPS 230, coming into force in July next year. "Noting the difficulties some of our regulated ...

Too much being asked of super trustees: Levy

ELIZA BAVIN  |  FRIDAY, 30 AUG 2024
Speaking in a personal capacity at the Senate Economics Committee, Michelle Levy said it is too much to expect superannuation trustees to fix Australia's housing problem. Levy said she is sympathetic to the housing crisis, noting that she agrees owning ...

APRA reorganises as it sets sights on superannuation

ELIZA BAVIN  |  WEDNESDAY, 28 AUG 2024
The Australian Prudential Regulation Authority (APRA) has published its latest corporate plan as well as some changes to its internal structure. The corporate plan outlines how the regulator will maintain the "strength and stability of Australia's banks ...

BUSSQ fights back against regulatory imposition

ANDREW MCKEAN  |  MONDAY, 26 AUG 2024
... this month, requiring both funds to engage an independent expert to conduct a review their compliance with Prudential Standard SPS 520 Fit and Proper, as well as their adherence to the duty to act in the best financial interests of beneficiaries when ...

APRA reprimands Cbus, BUSSQ over governance issues

ANDREW MCKEAN  |  WEDNESDAY, 14 AUG 2024
... Cbus' trustee, United Super, and BUSSQ bring in an independent expert to investigate their compliance with Prudential Standard SPS 520 Fit and Proper, which sets out requirements in relation to assessing the fitness and propriety of "responsible ...

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 ...