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Showing 51 - 60 of 196 results for "Prudential Standard"

APRA finalises rules for financial crisis readiness

ANDREW MCKEAN  |  FRIDAY, 19 MAY 2023
Finalising new prudential standards, APRA is aiming to bolster banks, insurers, and superannuation trustees' resilience against future financial crises. APRA hopes the new standards will equip these financial entities with strategies to counteract threats ...

APRA defers CPS 230 introduction

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
... pushing back the implementation of its new operational risk management standard following industry feedback. Prudential Standard CPS 230 Operational Risk Management (CPS 230) was initially intended to take effect 1 January 2024 but will now not be introduced ...

APRA investigates NobleOak capital adequacy breach

KARREN VERGARA  |  FRIDAY, 31 MAR 2023
... concentration risk, calling into question how these were measured and reported. The breaches specifically relate to Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge and Reporting Standard LRS 117.0 Asset Concentration Risk ...

NGS Super suffers cyber-attack

JAMIE WILLIAMSON  |  MONDAY, 27 MAR 2023
... cyber risk management," Ellis said. She also noted that all APRA-regulated super funds would be assess under Prudential Standard CPS 234 Information Security this year. Last year, Spirit Super was the subject of a breach that saw the information of about ...

APRA preserves life insurance prudential standards

KARREN VERGARA  |  FRIDAY, 10 MAR 2023
... consultation period. The prudential regulator flagged it was relatively satisfied with four prudential standards - Prudential Standard LPS 100 Solvency Standard; Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge; Prudential Standard ...

Regulators sound alarm on cybersecurity, fraud in super

ANDREW MCKEAN  |  FRIDAY, 24 FEB 2023
... address these concerns, APRA is conducting independent assessments of entities across all industries under Prudential Standard CPS 234 Information Security. "Our intention is that all APRA regulated super funds will be assessed in 2023," Ellis says. ...

Top 10 issues for super funds in 2023: KPMG

ANDREW MCKEAN  |  TUESDAY, 17 JAN 2023
... concern for super funds, given the long-term nature of the industry. APRA has emphasised this by updating its Prudential Standard SPS530 Investment Governance, calling for super fund to undertake scenario testing on climate risk. Super funds will play ...

Super funds told to report asset valuations more frequently

ANDREW MCKEAN  |  FRIDAY, 18 NOV 2022
... of next year, is designed to assist trustees in meeting their requirements under the recently strengthened Prudential Standard SPS 530 Investment Governance (SPS 530). Draft Prudential Practice Guide SPG 530 Investment Governance (SPG 530) also includes ...

APRA proposes safeguards against risk events in super

ANDREW MCKEAN  |  TUESDAY, 15 NOV 2022
APRA has proposed to replace the existing Prudential Standard SPS 114 Operational Risk Financial Requirement (SPS 114) with enhanced obligations for trustees, to improve how they manage financial resources to protect fund members from poor operational ...

APRA proposes changes to successor fund transfers

ANDREW MCKEAN  |  FRIDAY, 11 NOV 2022
... indicators point to this achieving better outcomes for members." As such, APRA intends to introduce requirements in Prudential Standard SPS 515 Strategic Planning and Member Outcomes (SPS 515) to ensure all RSE licensees are appropriately prepared to ...