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Showing 61 - 70 of 204 results for "Prudential Standard"

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 ...

APRA reinforces capital call expectations

JAMIE WILLIAMSON  |  TUESDAY, 1 NOV 2022
New APRA chair John Lonsdale wrote to banks and general and life insurers to remind them of the prudential requirements for additional Tier 1 and Tier 2 capital instruments. "With global credit spreads widening significantly over the past 12 months ...

Fed seeks feedback on rules to resolve large bank failures

ANDREW MCKEAN  |  MONDAY, 17 OCT 2022
The Federal Reserve has invited public comment on an advance notice of proposed rulemaking to enhance regulators' ability to resolve large bank failures. The Fed said recent merger activity and growth has increased the size of large US banking organisations ...