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Showing 71 - 80 of 112 results for "RSE licensee"

APRA receives new super powers

KARREN VERGARA  |  FRIDAY, 5 APR 2019
The prudential regulator's powers have been bolstered thanks to new laws that will enable it to take tougher action on trustees and underperforming funds. The Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation ...

APRA could oversee stalled super fund mergers

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
The financial services Royal Commission has suggested APRA's proposed new powers could be used to address stalled super fund mergers. The Parliament is currently waiting to pass a number of changes to the Superannuation Industry (Supervision) Act (SIS ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Royal Commission final report recommends the roles of ASIC and APRA be adjusted when it comes to superannuation oversight. A new independent body will also oversee the regulators. Releasing his final report into Misconduct in the Banking, Superannuation ...

APRA unveils new prudential measures

KARREN VERGARA  |  WEDNESDAY, 12 DEC 2018
APRA has finalised new measures aiming to strengthen superannuation member outcomes that will take effect from 1 January 2020. Among the initiatives, the regulator will require RSE licensees of MySuper and choice products to assess, annually benchmark ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
Retail superannuation funds at CBA, NAB, AMP and other institutions could face criminal charges after the Royal Commission's team of lawyers highlighted several instances where corporate and superannuation law was breached. The closing submission ...

APRA banned one person in 10 years: Royal Commission

HARRISON WORLEY  |  FRIDAY, 17 AUG 2018
... prevented them from acting as a responsible person?" Hodge asked. "As far as I'm aware, no. But, we have had the RSE licensee themselves take steps to remove individuals at APRA's instigation in that period, which has achieved the outcome we would have ...

One measure not enough to revoke MySuper: APRA

HARRISON WORLEY  |  MONDAY, 6 AUG 2018
The prudential regulator cautioned against the use of a sole measure to determine whether an underperforming superannuation fund should retain MySuper authorisation. In its latest submission to the Productivity Commission on superannuation's competitiveness ...

Cash is cash, APRA tells super funds

KANIKA SOOD  |  MONDAY, 2 JUL 2018
The prudential regulator has chided superannuation funds for investing members' funds held in cash options into non-cash securities like bonds and hybrid debt instruments among others. APRA's review found cash options had exposure to asset-backed ...

APRA tells super funds to improve conflict of interest management

HARRISON WORLEY  |  WEDNESDAY, 30 MAY 2018
... provisions, while also pointing out that contracts should contain clear and measurable performance indicators, which the RSE licensee should monitor regularly. Additionally, the regulator wants to see licensees consider and document how the use of related ...

Executive pay structure still fuels risk-taking: APRA

KANIKA SOOD  |  WEDNESDAY, 4 APR 2018
Australia's largest financial institutions still remunerate senior executives in a way that encourages risk-taking and undermines long-term financial health - but RSE licensees may be doing a better job than their peers, APRA said today. The findings ...