With the Australian Prudential Regulation Authority (APRA) pointing to the likelihood that up to 600 trustees may fall by the wayside, the Association of Superannuation Funds of Australia (ASFA) national conference will look in depth at the APRA trustee licensing issue.
APRA’s general manager, superannuation licensing, Tony Randle will join the chief executive of Hostplus, David Elia, in looking at the issues surrounding licensing and the manner in which superannuation funds are going about meeting the requirements.
ASFA asks: “Are you there yet, is your application in the pipeline, or are you still preparing it?”
“For those in the final category, you will need to sprint to the finish line. To help such funds pick-up speed, our speakers will give some tips on completing your application,” it said.
The session is also aimed at informing those funds who have already obtained their licence about the next steps to take and how they should go about retaining their licence status.
The regulators will also have their say in later sessions of the conference, with the Australian Securities and Investments Commission (ASIC) giving its views on the provision of financial advice.
Two senior ASIC officials, executive director, compliance, Jennifer O’Donnell and executive director, consumer protection regional, Greg Tanzer, will discuss the regulator’s role in the post-choice environment and particularly the issue of quality of advice.
O’Donnell and Tanzer are expected to outline the results of recent surveillance activity by ASIC, including materials gathered from its shadow shopping exercise.
They are also expected to canvass issues such as their ‘quality of advice’ campaign, Superannuation PDS work, and key compliance messages for industry.
