Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 10 of 170 results for "Prudential Standard"

Too much being asked of super trustees: Levy

ELIZA BAVIN  |  FRIDAY, 30 AUG 2024
Speaking in a personal capacity at the Senate Economics Committee, Michelle Levy said it is too much to expect superannuation trustees to fix Australia's housing problem. Levy said she is sympathetic to the housing crisis, noting that she agrees owning ...

APRA reorganises as it sets sights on superannuation

ELIZA BAVIN  |  WEDNESDAY, 28 AUG 2024
The Australian Prudential Regulation Authority (APRA) has published its latest corporate plan as well as some changes to its internal structure. The corporate plan outlines how the regulator will maintain the "strength and stability of Australia's banks ...

BUSSQ fights back against regulatory imposition

ANDREW MCKEAN  |  MONDAY, 26 AUG 2024
... this month, requiring both funds to engage an independent expert to conduct a review their compliance with Prudential Standard SPS 520 Fit and Proper, as well as their adherence to the duty to act in the best financial interests of beneficiaries when ...

APRA reprimands Cbus, BUSSQ over governance issues

ANDREW MCKEAN  |  WEDNESDAY, 14 AUG 2024
... Cbus' trustee, United Super, and BUSSQ bring in an independent expert to investigate their compliance with Prudential Standard SPS 520 Fit and Proper, which sets out requirements in relation to assessing the fitness and propriety of "responsible ...

Industry funds defend CFMEU board ties

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
... requirements of the SIS Act, Corporations Act, Australian Financial Services Licence obligations, and Superannuation Prudential Standard 520 Fit and Proper (CPS250). "We have robust procedures for ongoing probity checks and all current BUSSQ board directors ...

APRA heightens expectations around trustees' spending

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
... clearer focus on superannuation members' interests when it comes to fund expenditure. The regulator updated Prudential Standard SPS 515 Strategic Planning and Member Outcomes and its related guidance to "ensure members' interests are front-and-centre ...

APRA: RSE licensees show 'common areas of weakness'

ELIZA BAVIN  |  FRIDAY, 28 JUN 2024
... initial observations from its targeted thematic review of the superannuation industry's preparedness for Prudential Standard CPS 190 Recovery and Exit Planning (CPS 190). For RSE licensees, CPS 190 will come into effect from 1 January 2025 and the ...

Trustee boards fail to challenge unlisted valuations: APRA

JAMIE WILLIAMSON  |  THURSDAY, 20 JUN 2024
... APRA also found that some RSEs were not valuing their unlisted assets at least quarterly, as required under Prudential Standard SPS 530 Investment Governance. This was the case particularly for private equity holdings, with 14 RSEs failing to review ...

APRA updates industry on operational resilience guidance

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
... Practice Guide CPG 230 Operational Risk Management (CPG 230) is designed to assist in the implementation of Prudential Standard CPS 230 Operational Risk Management (CPS 230), which was finalised in July last year and takes effect from 1 July 2025. APRA ...

Super pool jumps to $3.9tn

KARREN VERGARA  |  WEDNESDAY, 29 MAY 2024
... activities assessing trustees' policies, processes, and practices in delivering good member outcome to enforce Prudential Standard CPS 230 Operational Risk Management, and transparency in administering the legislated performance test and heatmaps. ...
PREVIOUS
NEXT