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Regulatory

Cole puts funds on notice as expenditure data is revealed

ELIZA BAVIN  |  WEDNESDAY, 30 OCT 2024
APRA deputy chair Margaret Cole has highlighted potential issues with how super funds spend their money as the regulator publishes in-depth expenditure data.

ASIC secures win against HCF Life

ELIZA BAVIN  |  TUESDAY, 29 OCT 2024
The Federal Court agreed with ASIC's allegations that a 'pre-existing condition' term in certain HCF Life policies was liable to mislead the public.

Queensland-based financial firm loses AFSL

MATTHEW WAI  |  FRIDAY, 25 OCT 2024
A Queensland-based financial services business has lost its Australian financial service licence (AFSL) following its failure to comply with licensee obligation.

APRA questioned on super performance test

ELIZA BAVIN  |  FRIDAY, 25 OCT 2024
The prudential regulator has been questioned over how it monitors superannuation fund performance.

Operational risk reserve targets trimmed for larger funds

JAMIE WILLIAMSON  |  THURSDAY, 24 OCT 2024
Following consultation, APRA has lowered the minimum operational risk financial requirement (ORFR) target amounts for larger superannuation funds.

APRA prioritises supervision of trustee spending

JAMIE WILLIAMSON  |  TUESDAY, 22 OCT 2024
The prudential regulator is clamping down harder on super trustees' spending, saying it has identified "deficient" and "questionable" practices among funds.

Regal indicted for alleged short-selling breach

KARREN VERGARA  |  MONDAY, 21 OCT 2024
Regal Partners has been indicted by the South Korean securities watchdog after a former employee allegedly breached the country's tough short-selling rules.

ESSSuper shifts members to new default option

KARREN VERGARA  |  MONDAY, 21 OCT 2024
ESSSuper is moving members in its default investment option to the newly launched Balanced Growth Managed option.

Property fund management firm loses AFSL

MATTHEW WAI  |  TUESDAY, 15 OCT 2024
ASIC has stripped the Australian financial services licence (AFSL) of Aretean Ltd Pty, trading as Aretean Capital, following the fund manager's failure to comply with its obligations.

$3m super tax edges closer to reality

MATTHEW WAI  |  THURSDAY, 10 OCT 2024
The $3 million superannuation tax passed the lower house yesterday afternoon with a majority vote count of 52:9, however attempts to see the tax indexed were shot down.