While RSE licensees are not specifically required to offer retirement income products, they are expected to consider making changes to existing products or offering external products.
March 14, 2022A new consultation proposes enhancements to stress testing, valuation and liquidity management practices that will take effect from 1 January 2023.
September 30, 2021APRA may combine investment performance when administering performance tests to ensure performance history does not reset as a result of certain product changes.
August 18, 2021Westpac will pay A$3mn in civil penalties for BT Funds Management and Asgard Capital Management in proceedings commenced by ASIC in August 2020.
July 30, 2021Regulatory approval is required before a change in a superannuation licensee's ownership occurs. Noncompliance may attract "severe penalties".
October 23, 2020