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Showing 61 - 70 of 158 results for "Prudential Standard"

No pain, no gain: APRA

HARRISON WORLEY  |  TUESDAY, 15 OCT 2019
... Rowell expects all super trustees "should be well progressed towards the implementation of SPS 515", APRA's prudential standard for improved member outcomes, which commences on January 1 next year. The new standard will see trustees assess the outcomes ...

Super trustees must do better: Byres

HARRISON WORLEY  |  FRIDAY, 20 SEP 2019
... Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No 1) Bill 2019 and the new prudential standard SPS 515 Strategic Planning and Member Outcomes. The combination of the two will embolden APRA in its mission to "drive ...

APRA slaps traffic light ratings on super funds

KARREN VERGARA  |  TUESDAY, 3 SEP 2019
... use its new directions power to protect the interests of superannuation members." Separately, APRA confirmed Prudential Standard SPS 515 Strategic Planning and Member Outcomes would require all RESs to perform APRA's annual Business Performance Review ...

APRA opens margin requirement talks

HARRISON WORLEY  |  THURSDAY, 15 AUG 2019
... Consultation has opened for APRA-regulated entities to consult with the prudential regulator over proposed changes to Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives (CPS 226) which would accommodate a ...

Renewed calls for risk-adjusted returns

KARREN VERGARA  |  MONDAY, 12 AUG 2019
... question is whether a product is achieving its investment objectives." APRA's looming member outcomes prudential standard SPS 515, which takes effect from January 2020, expects trustees to clearly articulate and measure their performance across a ...

Westpac fined over reporting failure

ELIZABETH MCARTHUR  |  THURSDAY, 8 AUG 2019
APRA has handed Westpac the maximum financial penalty it can for failing to meet reporting obligations. Westpac and its subsidiaries St George Finance Holdings and Capital Finance Australia will pay more than $1.5 million after breaching requirements ...

Industry super fund adds director

HARRISON WORLEY  |  WEDNESDAY, 7 AUG 2019
A $2.6 billion industry superannuation fund appointed a former corporate super investment officer to its board. Following the departure of long-serving director Andrew Cooke, AvSuper has welcomed former Actuaries Institute president Geoff Burgess as ...

APRA proposes new remuneration standard

KARREN VERGARA  |  TUESDAY, 23 JUL 2019
APRA is introducing a new remuneration prudential standard for its regulated entities on the back of the Hayne Royal Commission's final recommendations. Draft prudential standard CPS 511 Remuneration is open for consultation until October 22. Chief ...

APRA sticks to rigid member outcomes deadline

KARREN VERGARA  |  FRIDAY, 12 JUL 2019
... meet the inaugural annual outcomes assessment, which is less than six months away. While consultation for prudential standard Strategic Planning and Member Outcomes (SPS 515) is underway, APRA has forewarned super funds that the proposed elements will ...

Associations raise member outcomes concern

KARREN VERGARA  |  FRIDAY, 21 JUN 2019
... is a disconnect between the law and APRA's expectations. APRA is busy working through submissions for Prudential Standard SPS 515 Strategic Planning and Member Outcomes, following a consultation period that ended on May 29. While Treasury Laws Amendment ...