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Showing 41 - 50 of 196 results for "Prudential Standard"

'Significant deficiencies' lead APRA to act against NGS Super

JAMIE WILLIAMSON | FRIDAY, 8 DEC 2023

... APRA's request following the attack. "The reviews identified deficiencies in NGS' compliance with Prudential Standard CPS 234 - Information Security (CPS 234), while the cyber incident involved a significant amount of data being lost and NGS' ...

APRA moves to ensure improved member outcomes

ANDREW MCKEAN | FRIDAY, 22 SEP 2023

APRA is updating Prudential Standard 'Strategic Planning and Member Outcomes' (SPS 515) to enhance member outcomes in superannuation, including requiring trustees to justify business-related expenses. The regulator's changes seek to align expenditure ...

APRA consults on hybrid bond resilience

CASSANDRA BALDINI | THURSDAY, 21 SEP 2023

The regulator is seeking feedback on improving the effectiveness of hybrid capital bonds amid concerns design features would not be resilient enough to withstand a banking crisis. APRA released its discussion paper on Thursday, citing the challenges ...

APRA finds signs of step change in remuneration practices

ANDREW MCKEAN | THURSDAY, 7 SEP 2023

... found early signs of change in the remuneration practices of financial services entities in a review of how Prudential Standard CPS 511 has been applied. In a letter to all APRA-regulated entities, the regulator said it was pleased with the steps taken ...

Macquarie flags asset management challenges

CASSANDRA BALDINI | THURSDAY, 7 SEP 2023

Macquarie Group posted a 3% drop in its private markets assets under management (AUM) to $326.8 billion and said its asset management business will face economic challenges over the short term. In an investor presentation, the group said the drop was ...

Most trustees pass Canva valuation test: APRA

KARREN VERGARA | MONDAY, 4 SEP 2023

... follows APRA's broader initiative to impose more stringent rules on how funds value unlisted assets under Prudential Standard SPS 530 Investment Governance launched in late 2021, which was sparked by COVID-19 testing their ability or lack thereof to ...

Trustees to disclose more remuneration details

KARREN VERGARA | WEDNESDAY, 2 AUG 2023

... particularly wanting deeper insight into how variable remuneration is rewarded. The prudential regulator has updated Prudential Standard CPS 511 Remuneration to reflect how it wants trustees to annually publish information on remuneration frameworks ...

APRA finalises operational risk prudential standard

ANDREW MCKEAN | TUESDAY, 18 JUL 2023

APRA has finalised Prudential Standard CPS 230 Operational Risk Management, which aims to enhance the ability of banks, insurers, and superannuation trustees to manage operational risks and respond to business disruptions. According to QMV legal, the ...

Institutions must raise the bar on cybersecurity resilience: APRA

CASSANDRA BALDINI | THURSDAY, 6 JUL 2023

... place at all. "APRA encourages every entity to review those common weaknesses outlined above, along with the prudential standard itself, and incorporate relevant strategies and plans to address shortfalls in their cyber security controls and governance ...

Bank of Queensland slapped with EU

CASSANDRA BALDINI | WEDNESDAY, 31 MAY 2023

APRA and AUSTRAC have agreed to a court enforceable undertaking (CEU) following weakness in the bank's risk management and money laundering controls. APRA said it's acted following several beaches or its prudential standards and a review that ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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