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Showing 521 - 530 of 1822 results for "APRA."

APRA to mandate independent certifications

KARREN VERGARA  |  WEDNESDAY, 22 SEP 2021
Prudential regulator APRA plans to go ahead with mandating independent certifications within group insurance as recommended by the financial services Royal Commission. In a letter to registrable superannuation entity licensees, APRA clarified its position ...

Higher premiums a problem, not a trend: AFA

ANNABELLE DICKSON  |  TUESDAY, 21 SEP 2021
The increase in life insurance premiums over the last few years are a problem that needs to be fixed rather than recognising it as a trend, according to AIA's chief executive. Speaking on a panel at the Association of Financial Advisers national conference ...

More departures at EISS Super

JAMIE WILLIAMSON  |  MONDAY, 20 SEP 2021
Just a week on from the exit of its chief executive, EISS Super has also now bid farewell to its chair and several directors. Fund chair Warren Mundy has departed the fund, alongside directors Mike Roche, Juliet Dunworth and Thomas Costa. Roche had ...

Former super fund chief defends tenure

JAMIE WILLIAMSON  |  THURSDAY, 16 SEP 2021
The former chief executive of EISS Super has spoken out about his decision to depart the fund in the wake of media scrutiny and the fund's failure of the APRA performance test. Alex Hutchison resigned as chief executive of EISS Super on September ...

Former Macquarie chief to head ASIC, APRA regulator

ANNABELLE DICKSON  |  FRIDAY, 10 SEP 2021
The former chief executive of Macquarie has been named as chair of the authority which will review the effectiveness and capability of both ASIC and APRA. Treasurer Josh Frydenberg announced that Nicholas Moore will chair the Financial Regulator Assessment ...

APRA intensifies scrutiny of underperformers

KARREN VERGARA  |  FRIDAY, 10 SEP 2021
... and how they plan to address them. "Trustees have to monitor their products closely and report important information to APRA - including relating to the movement of members and outflow of funds," he said. APRA will also sharpen its assessment of the ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
The Federal Court has found Colonial First State misled members of its FirstChoice Fund on at least 12,978 occasions over nearly two years in relation to switching to its MySuper product. The court found CFS's communication (via letters and calls) ...

Gauging the Future Fund's MySuper potential

JAMIE WILLIAMSON  |  MONDAY, 6 SEP 2021
As calls for the Future Fund to become Australia's default superannuation manager are renewed, Rainmaker Information has run the numbers on what that might look like. Speculation over whether the sovereign wealth fund should be charged with managing ...

Pain ahead for super trustees on unlisted valuations

KANIKA SOOD  |  MONDAY, 6 SEP 2021
Last year many superannuation funds revalued their unlisted assets during lockdowns. Now APRA says most of their policies were deficient. Super funds took different approaches to the revaluations. For example, at Cbus the board devalued unlisted assets ...

NGS Super hikes fees

KANIKA SOOD  |  FRIDAY, 3 SEP 2021
Two days after shelving a planned merger, NGS Super informed members of plans to increase fees on some investment options from October. A spokesperson for the fund said the fee increases "has no connection" to its scrapped merger with Australian Catholic ...