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Showing 61 - 70 of 79 results for "SPS"

APRA warns trustees on expectations

ELIZABETH MCARTHUR  |  THURSDAY, 28 MAR 2019
... details on our expectations in this regard and to outline how we propose to assist industry in meeting the new requirements of SPS 515."

APRA unveils new prudential measures

KARREN VERGARA  |  WEDNESDAY, 12 DEC 2018
... in their strategic and business planning." Part of the package includes three new prudential standards: Prudential Standard SPS 515 Strategic Planning and Member Outcomes; Prudential Practice Guide SPG 515 Strategic and Business Planning; and Prudential ...

APRA takes action against IOOF

HARRISON WORLEY  |  FRIDAY, 7 DEC 2018
... firm EY which provided a "reasonable basis" to conclude IIML had breached section 52 of the SIS Act and prudential standards SPS 520 and 521, which relate to conflicts of interest. APRA said it would seek to disqualify five individuals that were at times ...

APRA to reopen old wounds for CBA, IOOF

KARREN VERGARA  |  WEDNESDAY, 5 SEP 2018
... Suncorp Portfolio Services Limited (SPSL) case study - which may not be consistent with the requirements of Prudential Standard SPS 231 Outsourcing. Maurizio Pinto, the executive manager of the office of the superannuation trustee within SPSL, had to ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... SLSL nor did it take into account the arrangement was commercial and at arm's length; Contravened Prudential Standard SPS 231 (outsourcing) by failing to ensure SPSL could demonstrate the outsourcing arrangement with SLSL is conducted on an arm's ...

Suncorp suppressed tax benefits to super members

KARREN VERGARA  |  TUESDAY, 14 AUG 2018
The Hayne Royal Commission put the spotlight on obscure administration fees and intra-company arrangements, as well as tax benefits superannuation funds are withholding from members. Suncorp was in the hot seat this morning, represented by Maurizio ...

Cash is cash, APRA tells super funds

KANIKA SOOD  |  MONDAY, 2 JUL 2018
... product will be readily accessible (for withdrawal or transfer) without change in value," it said citing prudential standard SPS 530 Investment Governance. In some cases the reverse was observed, where a fund's investment policy framework permitted ...

New insurance industry guidance on its way

DARREN SNYDER  |  THURSDAY, 17 MAR 2016
Superannuation trustees will soon be able to access a document that provides all the information required to fully and better understand their fund's insurance business. Speaking at the Conference of Major Superannuation Funds yesterday, Industry Funds ...

EQT creates new division, appoints head

ALEX BURKE  |  WEDNESDAY, 13 JAN 2016
... appointed a new head for the business. EQT's Superannuation Trustee Office will become Superannuation & Portfolio Services (SPS), and will be led by current KPMG director, wealth advisory Mark Blair. The new division continues EQT's long history of providing ...

APRA releases draft RSE fraud management guide

ALEX DUNNIN  |  MONDAY, 27 OCT 2014
... updates and expands upon APRA's existing fraud risk guidance." Illustrating this, the APRA consultation paper notes, "Under SPS 220, an RSE licensee is responsible for ensuring that its risk management framework covers all material risks to its business ...