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Search ResultsShowing 1 - 10 of 100+ results for "APRA"
APRA approves MLC super takeover
ELIZABETH MCARTHUR  |  FRIDAY, 7 MAY 2021
APRA has given IOOF the go-ahead to take over MLC's superannuation business. Yesterday, the regulator approved IOOF's application to hold a controlling stake in NULIS Nominees, the trustee for MLC Super. On 31 August 2020, IOOF entered into an agreement ...
New partnership for BC Investment Group
ELIZABETH MCARTHUR  |  MONDAY, 3 MAY 2021
... International Limited, a conglomerate listed on the Hong Kong stock exchange. Novatti said it is in regular communication with APRA on assessment of its application for a restricted banking licence. Following the onset of COVID-19, the regulator had ...
Rise of the mega funds continues
ANNABELLE DICKSON  |  MONDAY, 3 MAY 2021
... Australia's retirement savings managed by just 12 funds, new research shows. KPMG's annual Super Insights report analysed APRA and ATO data and found that once the mergers that have been previously announced are finalised, 77% of member accounts will ...
Westpac profit climbs, executive leaves
ANNABELLE DICKSON  |  MONDAY, 3 MAY 2021
... in its 'Fix' strategy to strengthen risk governance is underway following the AUSTRAC scandal and also orders from APRA . As a result, Westpac has doubled its financial crime operations team and added 100 roles in risk to improve risk management ...
Labor won't support YFYS Bill in current form
KANIKA SOOD  |  FRIDAY, 30 APR 2021
... stapling to underperforming funds, inadequate insurance for some Australian worked, exclusion of some super products from the APRA test, flawed performance testing, Best Financial Interest Duty's administrative burden, and stapling-induced administrative ...
Draft regulation on YFYS released
KANIKA SOOD  |  WEDNESDAY, 28 APR 2021
The government has conceded to industry demands on administration fees and unlisted assets' treatment in the new APRA performance tests, as it finally releases draft regulation for the Your Future, Your Super reforms. It has agreed to include administration ...
Suncorp divests super unit to industry fund
KARREN VERGARA  |  WEDNESDAY, 28 APR 2021
Suncorp will divest its wealth division to an industry fund, transferring $6.4 billion in assets under management and 137,000 members. LGIAsuper will pay $45 million for the acquisition of Suncorp Portfolio Services and will retain about 130 staff that ...
APRA releases draft climate change guidance
RACHEL ALEMBAKIS  |  FRIDAY, 23 APR 2021
... climate change can interact and compound other institutional risks including credit risk, market risk, and liquidity risk, APRA has emphasised in a new practice guide. APRA has released a draft guide for Prudential Practice Guide CPG 229 Climate Change ...
Life industry to launch framework
ANNABELLE DICKSON  |  WEDNESDAY, 21 APR 2021
... proactive approach to create codes and standards enhancing consumer outcomes," Hume said. The latest development comes following APRA's announcement that it has commenced industry consultation on revisions to the prudential standards for life insurers ...
Adviser-led TPD claim admittance rates fall
KANIKA SOOD  |  TUESDAY, 20 APR 2021
New data from APRA and ASIC shows 81% of adviser-led TPD claims were admitted in 2020, down from 87% two years ago. The joint claims data published by APRA and ASIC included death, total and permanent disability (TPD), trauma, and disability income ...
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