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Showing 31 - 40 of 96 results for "RSE licensee"

APRA issues guidance on lifecycle products for performance test

KANIKA SOOD  |  WEDNESDAY, 18 AUG 2021
APRA has issued guidance on how it will administer the Your Future, Your Super performance test for lifecycle MySuper options that make changes within the option or transition to a new option. The regulator has the power to make determinations on combining ...

First YFYS performance test results weeks away

KANIKA SOOD  |  MONDAY, 2 AUG 2021
Superannuation funds can expect their results in the first performance test by August 31 under the new Your Future, Your Super reforms, according to an APRA letter sent Friday. The first round covers MySuper products alone. Trustee-directed products ...

FAR draft legislation released

KANIKA SOOD  |  MONDAY, 19 JUL 2021
The government on Friday released the draft legislation for the Financial Accountability Regime (FAR) which will apply to superannuation funds and insurers. The FAR extends the Banking Executive Accountability Regime (BEAR) which has applied to banks ...

Quasi-mergers in APRA's sights

ELIZA BAVIN  |  WEDNESDAY, 10 MAR 2021
... being prioritised in its decision-making, or it appears that a trustee may have failed to meet its obligations under RSE licensee law, APRA is prepared to take a range of actions to safeguard members depending upon the nature of our concerns and bearing ...

APRA calls out poor group insurance practices

KARREN VERGARA  |  TUESDAY, 9 MAR 2021
The prudential regulator has lambasted the group insurance sector for several practices it deems disagreeable, casting doubt over the future viability of insurance provided via superannuation. APRA recently wrote to superannuation funds and life insurers ...

RSE trustee board composition evolving

KANIKA SOOD  |  MONDAY, 1 FEB 2021
In the last six years, independent directors have gone from holding 5.2% of the total board positions at RSE licensees to 10.7% of them as at June 2020, says new APRA data. The total directorships at responsible superannuation entity licensees shrunk ...

APRA delays insurance in super guidance

ELIZA BAVIN  |  THURSDAY, 21 JAN 2021
... industry. The guidance, Prudential Standard SPS 250 Insurance in Superannuation, seeks to establish requirements for an RSE licensee with respect to making insurance benefits available to beneficiaries. Feedback from the November 2019 consultation, which ...

Regulators alert trustees of new obligations

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
The financial services and superannuation regulators have expressed their expectations to trustees on the new member outcomes, and product design and distribution obligations. In a letter to trustees co-signed by APRA deputy chair Helen Rowell and ASIC ...

APRA advises funds to review ownership structures

ELIZA BAVIN  |  FRIDAY, 16 OCT 2020
... application of these requirements to their particular circumstances," APRA said. "For example, APRA is aware that some RSE licensee directors hold shares in an RSE licensee. Where this is the case, it may be that the appointment of a new director or ...

ASIC takes action against BTFM, Asgard, StatePlus

JAMIE WILLIAMSON  |  THURSDAY, 20 AUG 2020
... than they could reasonably be expected to provide an annual review to. The conduct occurred when StatePlus was the RSE licensee for StatePlus Fixed Term Pension Plan and the StatePlus Retirement Fund. As at 30 June 2017, the two funds had a combined ...