All posts tagged "Superannuation"
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694Australia & NZStatewide Superannuation Fined for Overcharging, Misleading Members
Statewide also reported its breaches to ASIC some 45 days late. The firm is required to undertake a remediation programme and engage an independent expert for review.
January 20, 2022 -
900Australia & NZASIC Warns Against Investing Super in Crypto Assets
ASIC says individuals who set up self-managed super funds may be increasingly targeted by scammers to invest in crypto-assets.
January 19, 2022 -
476Australia & NZAustralia Announces Reforms to Proxy Advice Regime
The reforms extend AFS licensing requirements to a greater range of proxy adviser activities, as well as enhance transparency of super funds' voting records.
December 23, 2021 -
336Australia & NZAPRA Publishes Latest Data on Super Fund Underperformance
About 60% of choice products and 45% of MySuper products delivered returns below benchmarks. APRA will further intensify its supervision on trustees delivering sub-standard member outcomes.
December 17, 2021 -
597Australia & NZASIC Files Multiple Court Proceedings Against Westpac
Westpac has already agreed to admit to the allegations, remediate A$80mn to customers, and pay A$113mn in penalties, subject to court approval.
November 30, 2021 -
613Australia & NZ
APRA Calls For Greater Board Engagement on Cyber Risk
APRA found in a data collection exercise that 60 percent of regulated entities had not assessed IT service providers' information security control testing.
November 25, 2021 -
520Australia & NZ
APRA Seeks Information from Super Trustees on Financial Resilience
APRA has issued a discussion paper seeking to better understand current and emerging approaches for managing financial resources.
November 23, 2021 -
197Australia & NZ
APRA Finalises New Standards on Insurance in Superannuation
In preparation for the 1 July 2022 effective date, APRA "encourages trustees to reassess their insurance arrangements and strategy, risk and compliance frameworks”.
November 17, 2021 -
308Australia & NZAustralia Finalises Rules on Super Fund Portfolio Disclosures
Morningstar has expressed concern that the rules do not require super funds to disclose specific stocks or bonds held in portfolios run by external asset managers.
November 16, 2021 -
227Australia & NZ
Australia Tables Final Tranche of Royal Commission-related Bills
Legislation was introduced to establish the FAR and CSLR. Separate bills were introduced to improve the superannuation system and outcomes for litigation funding participants.
November 6, 2021
