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Showing 601 - 610 of 1822 results for "APRA."

RBNZ puts Westpac on notice

ANNABELLE DICKSON  |  WEDNESDAY, 24 MAR 2021
The Reserve Bank of New Zealand (RBNZ) has instructed Westpac New Zealand (WNZL) to hold additional liquid assets and commission independent reports into its risk governance and liquidity risk management. The RBNZ has instructed that the first independent ...

APRA outlines indemnity measures

ANNABELLE DICKSON  |  TUESDAY, 23 MAR 2021
The prudential regulator has written to authorised deposit-taking institutions (ADIs) to ensure the management of risks with indemnities in divestment transactions. APRA warns that without appropriate controls, indemnities can expose ADIs to significant ...

Super funds to answer to new APRA enforcer

ELIZA BAVIN  |  FRIDAY, 19 MAR 2021
APRA has announced the appointment of Margaret Cole as a new member, focused on enforcement of the superannuation sector. Announcing the appointment, Treasurer Josh Frydenberg said Cole has extensive experience in regulatory and legal fields across ...

Must prepare for demise of LIBOR: RBA

ELIZA BAVIN  |  FRIDAY, 19 MAR 2021
The Reserve Bank of Australia (RBA) has told financial institutions they must be prepared for the "imminent demise" of LIBOR. RBA assistant governor (financial markets) Christopher Kent said as the deadline for LIBOR is fast approaching, financial institutions ...

APRA closes Westpac probe

ELIZA BAVIN  |  FRIDAY, 12 MAR 2021
APRA has closed its investigation into possible breaches of the Banking Act 1959, including the Banking Executive Accountability Regime (BEAR), by Westpac. APRA launched the investigation into Westpac last year following allegations by AUSTRAC that ...

GROW Super rebrands

KARREN VERGARA  |  THURSDAY, 11 MAR 2021
GROW Super has rebranded to GROW Inc in a bid to diversify away from its superannuation offering. GROW Inc offers business and data intelligence software to growing companies, underpinned by distributed ledger technology. GROW, for example, integrates ...

Allianz to rectify past deficiencies

ELIZA BAVIN  |  WEDNESDAY, 10 MAR 2021
Allianz Australia has been ordered to rectify its past weaknesses in its risk culture, risk governance and risk management, which APRA told the court was persistent and serious. APRA agreed to accept a court enforceable undertaking (CEU) from Allianz ...

Quasi-mergers in APRA's sights

ELIZA BAVIN  |  WEDNESDAY, 10 MAR 2021
The prudential regulator has acknowledged concerns over "quasi-mergers" raised by Senator Andrew Bragg. In a letter provided to Financial Standard, Bragg contacted APRA in February to express concerns over the "quasi-merger" between Maritime Super and ...

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 ...

Women don't own fair share of super

ELIZABETH MCARTHUR  |  TUESDAY, 9 MAR 2021
New research from Rainmaker Information has highlighted the stark gender gap in superannuation savings. Despite making up half of the population, women only own roughly 40% of the funds under management in super - equating to approximately $1.2 trillion. ...