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Showing 1 - 10 of 24 results for "APRA for"

AMP advances demerger

KARREN VERGARA  |  TUESDAY, 30 NOV 2021
... and operational challenges since the Hayne Royal Commission. It recently entered into an enforceable undertaking with APRA for misconduct over its superannuation businesses and flagged that $325 million will be wiped out from the balance sheet.

Consumer group slams super self-assessments

ELIZABETH MCARTHUR  |  MONDAY, 30 AUG 2021
Super Consumers Australia has slammed super funds' member outcomes assessments (MOAs), finding several funds claiming to be acting in members' best interests even when fees are high and performance is lacklustre. Super Consumers Australia looked ...

AFA slams new SOA measures

KARREN VERGARA  |  WEDNESDAY, 7 JUL 2021
The Association of Financial Advisers has hit back at ASIC and APRA for causing "confusion" and "interfering" with financial advice as they look to introduce new changes to Statements of Advice. The association points to the regulators' joint letter ...

APRA reduces ERS reporting for funds

ELIZA BAVIN  |  WEDNESDAY, 21 OCT 2020
... oversight reporting has changed, amongst other things. These have always been requirements of the reporting standards set by APRA for the oversight of the ERS scheme, but will now have more of a focus. Funds will no longer have to continue providing ...

COVID-19 to hasten merger talks

HARRISON WORLEY  |  TUESDAY, 24 MAR 2020
Latest analysis of Australia's superannuation industry shows COVID-19 may prove the catalyst for small superannuation funds to finally pull the trigger and merge. Rice Warner believes the turmoil experienced across financial services will soon force ...

Industry bodies react to APRA review

KARREN VERGARA  |  THURSDAY, 18 JUL 2019
... superannuation system and go against the interests of fund members," he said. The Customer Owned Banking Association is supporting APRA for agreeing to actively focus more on competition in its decision-making processes. Chief executive Michael Lawrence ...

APRA forced to overhaul culture, capabilities

KARREN VERGARA  |  WEDNESDAY, 17 JUL 2019
The prudential regulator has been criticised for its poor culture, leadership and regulation of the superannuation sector following a landmark review that will force it to overhaul its entire structure. The Australian Prudential Regulation Authority ...

APRA tighten reins on super fund acquisitions

KARREN VERGARA  |  TUESDAY, 25 JUN 2019
... stakes in superannuation funds. From 5 July, any party seeking to acquire a stake greater than 15% in an RSE must ask APRA for approval. APRA said the proposed change brings superannuation in line with the banking and insurance sectors. Before granting ...

APRA grilled over superannuation

KANIKA SOOD  |  FRIDAY, 30 NOV 2018
... raising issues up. How NAB/MLC's fee for no service breach was discovered Tendering an MLC Nominees breach report to APRA for its Universal Super scheme, Hodge gave a look into how MLC says it found out it had been charging clients fee for no service ...

Industry realigns for climate change

ALEX BURKE  |  TUESDAY, 21 FEB 2017
... (ACSI) welcomed the prudential regulator's support for the issue and the Investor Group on Climate Change (IGCC) thanked APRA for accepting "the reality that climate change poses a material financial risk for Australian business and the economy." In ...
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