There is evidence that the current performance test is discouraging investment in some sectors like energy transition and affordable housing.
March 11, 2024Senator Andrew Bragg said ASIC and APRA are failing in their mandates and that the twin peaks model has "had its day".
February 26, 2024Minister Stephen Jones said ASIC will only be able to catch the most egregious examples of greenwashing unless Australia gets its taxonomy right.
May 4, 2023A review of the YFYS reforms that commenced in September found that the performance can encourage short-termism and discourage.
April 10, 2023APRA expects all trustees to evaluate and improve their processes for selecting, monitoring and overseeing outsourcing arrangements.
October 8, 2022Australia's Treasury said it is looking to identify unintended consequences and implementation issues arising from the YFYS laws passed in 2021.
September 8, 2022Four of the five have now failed for a second time. Five other MySuper products that failed last year have now passed.
September 1, 2022In light of the upcoming review, the government will pause a planned extension of APRA's performance tests beyond MySuper products for 12 months.
July 13, 2022The government will assess which datasets to prioritise across the non-bank lending, merchant acquirer, superannuation and insurance sectors.
February 4, 2022Morningstar 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