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Showing 51 - 60 of 1451 results for "Prudent"

New product lead at Equip Super

ELIZABETH FRY  |  FRIDAY, 28 JUL 2023
Equip Super has strengthened its leadership team with the appointment of a highly experienced product lead. Reporting to Equip Super chief member officer Alexis Harrison, Anthony Angelucci has been recruited to drive Equip Super's product strategy. ...

Credit Suisse fined $575m by regulators

CASSANDRA BALDINI  |  TUESDAY, 25 JUL 2023
US and UK regulators have imposed fines of $575 million (US$388 million) on the bank for risk management and governance failures related to the collapse of Archegos Capital Management. The US Federal Reserve has issued Credit Suisse a $394.84 million ...

APRA toughens stress testing frequency, valuation stance

KARREN VERGARA, RACHEL ALEMBAKIS  |  FRIDAY, 21 JUL 2023
The prudential regulator is reinforcing the importance of superannuation funds to conduct more rigorous and frequent stress testing amid the fracas over valuations in the property sector. In updating Prudential Practice Guide SPG 530 Investment Governance ...

AMP's largest super option yields 9.1% return

ANDREW MCKEAN  |  WEDNESDAY, 19 JUL 2023
AMP has delivered a return of 9.1% for members of its biggest superannuation product. The AMP MySuper 1970s investment option returned 9.1% for the financial year ending 30 June 2023. The lifecycle superannuation option, which uses a balanced growth ...

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 ...

Aware Super returns 10.7% for FY23

CASSANDRA BALDINI  |  FRIDAY, 7 JUL 2023
The super fund delivered 10.7% to members sitting in its default MySuper Lifecycle option, with investment chief Damian Graham saying a pivot away from certain unlisted asset sectors proved the right call. Aware's default MySuper option is a lifecycle ...

Institutions must raise the bar on cybersecurity resilience: APRA

CASSANDRA BALDINI  |  THURSDAY, 6 JUL 2023
Insights from APRA expose a lack of compliance with cybersecurity obligations is leaving hundreds of institutions open to financial crime. The regulator plans to have assessed more than 300 banks, insurers and super trustees' compliance with CPS 234 ...

Small super funds admonish APRA

ANDREW MCKEAN  |  FRIDAY, 23 JUN 2023
In the most recent stakeholder survey conducted by APRA, small superannuation funds expressed disproportionally high discontent with the regulator. APRA observed that superannuation and trustee respondents gave distinctly lower ratings for almost all ...

FRAA releases draft APRA, ASIC metrics

KARREN VERGARA  |  FRIDAY, 16 JUN 2023
The independent body tasked with reviewing the competency of APRA and ASIC has released a list of draft metrics it will use to measure the regulators against and is asking for industry feedback. The Financial Regulator Assessment Authority (FRAA) has ...

Federal Reserve holds rates steady

ANDREW MCKEAN  |  THURSDAY, 15 JUN 2023
... thinks it will be appropriate to raise rates further, considering how far and fast rates have already moved, it would be prudent to slow the pace of hiking." "The long and variable lags of monetary policy means that the negative impact on growth is only ...