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Showing 511 - 520 of 1611 results for "Prudent"

APRA updates enforcement approach

KRISTI CHENG  |  WEDNESDAY, 4 SEP 2019
APRA says its new enforcement approach goes beyond taking stronger action earlier, clarifying when and how it will publicise the actions it takes. Outlining how it will increase transparency and take stronger action against misbehaving institutions ...

APRA slaps traffic light ratings on super funds

KARREN VERGARA  |  TUESDAY, 3 SEP 2019
The prudential regulator confirmed a "traffic light" system aimed at weeding out underperforming superannuation funds is currently in the works. Deputy chair Helen Rowell flagged APRA is developing a heat map based on four key areas -investment returns ...

CommInsure sale stalls, sold for discount

KARREN VERGARA  |  FRIDAY, 23 AUG 2019
The Commonwealth Bank will sell its life insurance business for $150 million less than originally agreed as the sale experiences delays and regulatory roadblocks. The banking group today announced its divestment of CommInsure Life to AIA Group is facing ...

IOOF establishes super trustee office

HARRISON WORLEY  |  WEDNESDAY, 21 AUG 2019
IOOF believes it has actioned all 145 items required to meet licence conditions imposed by APRA late last year, including those which it failed to meet the original deadline for. In an update to the market late yesterday, IOOF said the independent reviewer ...

APRA opens margin requirement talks

HARRISON WORLEY  |  THURSDAY, 15 AUG 2019
Super funds and life insurers have two weeks to air their opinions on APRA's proposed amendments to its margin requirements for non-centrally cleared derivatives. Consultation has opened for APRA-regulated entities to consult with the prudential regulator ...

APRA hits Allianz over risk

HARRISON WORLEY  |  WEDNESDAY, 14 AUG 2019
APRA slapped an additional capital requirement on insurer Allianz after gaps were identified by its governance risk self-assessment. The insurer has been hit with an additional $250 million capital requirement by the prudential regulator following its ...

Byres warns not to spread APRA too thin

HARRISON WORLEY  |  MONDAY, 12 AUG 2019
With every review adding more to its plate, APRA chair Wayne Byres has warned against spreading the regulator too thin. Appearing before the House of Representatives Standing Committee on Economics on Friday, APRA deputy chair John Lonsdale reiterated ...

Renewed calls for risk-adjusted returns

KARREN VERGARA  |  MONDAY, 12 AUG 2019
The endemic use of headline returns to pit a superannuation fund's performance against another has renewed calls for a fairer, like-for-like comparison that focuses on risk as the key metric. The propensity for research houses, the media - and even ...

Westpac fined over reporting failure

ELIZABETH MCARTHUR  |  THURSDAY, 8 AUG 2019
APRA has handed Westpac the maximum financial penalty it can for failing to meet reporting obligations. Westpac and its subsidiaries St George Finance Holdings and Capital Finance Australia will pay more than $1.5 million after breaching requirements ...

On track: APRA reveals RC progress

HARRISON WORLEY  |  THURSDAY, 8 AUG 2019
APRA is on track to meet its deadlines to implement the recommendations stemming from the Royal Commission. The prudential regulator has revealed its responses to each of the 10 recommendations relevant to APRA following the release of Kenneth Hayne's ...