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APRA
Superannuation
ASIC has sued the trustee of Australia’s largest super fund, AustralianSuper, alleging failures to address multiple member accounts affecting 90,000 members over a decade...
Superannuation
APRA has announced 96 trustee directed products and one MySuper product failed to meet the benchmark of its 2023 superannuation performance test....
Financial planning
The FAAA has warned advisers to be alert if their clients are in an underperforming super fund as this month’s APRA performance test is increased to certain trustee-direc...
Financial planning
A partner at an insurance firm has shared his thoughts on the outlook for PI insurance as APRA reveals advisers’ premium have risen more than 40 per cent since 2015....
Financial planning
From greenwashing allegations and interim stop orders to fines and penalties, Money Management has rounded up all the disciplinary actions faced by firms in the first ha...
Financial planning
Super funds are demonstrating gaps in their member data, according to a joint APRA/ASIC review, as they are concerned collecting too much information could put them at ri...
Superannuation
A joint ASIC/APRA thematic review has found trustees need to make more progress on enhancing retirement outcomes for members under the Retirement Income Covenant. ...
Superannuation
The Financial Regulator Assessment Authority has released its review of the Australian Prudential Regulation Authority....
Superannuation
OnePath Custodians has been fined $1.46 million for failing to direct 125 member contributions to a MySuper product....
Financial planning
Less than 1 per cent of total advisers are ‘pure risk’ advisers as commission changes and premium increases drive them out of the profession or into new advice careers, s...
People & Products
AUSTRAC has accepted an enforceable undertaking from the Bank of Queensland to improve its compliance with Australia’s anti-money laundering and counter-terrorism financi...
Financial planning
Treasury has issued a consultation paper detailing the proposed levy figures for APRA and ASIC in 2023-24....
Funds management
The country's financial regulators have sought to temper fears of a crisis following the collapse of three US banks. ...
Outsider
When it comes to human interest stories, the Australian Prudential Regulation Authority is keen to let the organisations it regulates know its staff are more than just fa...
People & Products
Allianz Retire+ has launched a retirement income product offering guaranteed income for life with 10 million people expected to retire over the next 20 years....
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The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...