All posts tagged "Superannuation"
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375Australia & NZAustralia: 10yr Jail Term Imposed for Superannuation Misappropriation
The director of a group of companies used A$1.2mn from self-managed superannuation funds intended for property investments to "fund a lavish lifestyle".
April 9, 2020 -
425Australia & NZAPRA Suspends Issuance of New Licenses
Given the challenges new entrants face even under normal economic conditions, APRA does not consider it prudent to license new entities for at least the next six months.
April 9, 2020 -
729Australia & NZAustralia: Super Funds Seek Liquidity Backstop Facility
The government will allow individuals in financial stress to access superannuation savings, but may have underestimated the ability of super funds to meet withdrawals.
March 27, 2020 -
545Australia & NZAustralia Unveils Stage Two Economic Package Worth A$66.1b
Including the new package, a total A$189bn is being injected into the economy by 'all arms of the government' to 'help build a bridge to recovery'.
March 23, 2020 -
296UncategorisedASIC Consults on Advice Fee Consent, Independence Disclosures
The legislative instruments ASIC proposes are based on draft legislation for Royal Commission reforms - due to come into effect in July.
March 10, 2020 -
401Australia & NZAustralia: FAR Extension Out of Step with Royal Commission Proposals
The proposed extension of the Financial Accountability Regime to ASIC-regulated firms could potentially affect 53,000 small businesses, says former ASIC official Pamela Hanrahan.
March 5, 2020 -
547Australia & NZAustralia: Preparing for the Financial Accountability Regime
An essential first step to prepare for the FAR is for organisations to clarify internal lines of accountability, says APRA's Helen Rowell.
February 21, 2020 -
435Australia & NZ
APRA, ASIC Welcome Reforms on Superannuation Regulation
ASIC will be focused on conduct issues involving superannuation trustees, while APRA will be focused on prudential supervision of trustee activities.
February 17, 2020 -
326Australia & NZ
ASIC Asks Superannuation Trustees to Improve Member Communications
ASIC's review of communications material from 12 superannuation funds found that some trustees are not always sufficiently focused on their members’ needs.
February 14, 2020 -
423Australia & NZBanks Against Penalties Proposed in New Accountability Regime
Australia's new Financial Accountability Regime will subject accountable persons to penalties up to A$1.05mn per breach, or three times the benefit derived or detriment avoided, whichever is higher.
February 7, 2020
