APRA

Policy & Regulation

AMP to face another Royal Commission grilling

AMP Limited is listed to face another round of Royal Commission questioning as the process enters its final week....

Life/Risk

Life policy revenue up 11.5% in Sept quarter

APRA figures have shown an 11.5 per cent year-on-year rise in the Australian life insurance industry’s net policy revenue to $17.9 billion in the September 2018 quarter....

Policy & Regulation

RC probes causes of misconduct

The Royal Commission will today begin its final round of hearings looking at what caused the misconduct and what can be done to fix those causes....

Superannuation

Just 25 to 30 major super funds predicted to remain

Australia could be left with as few as 25 or 30 major superannuation funds in the next decade as changes roll through the industry, not least those resulting from the Roy...

Policy & Regulation

APRA reveals enforcement strategy terms of reference

The prudential regulator has announced the terms of reference for a review of its enforcement strategy....

Superannuation

ASFA warns of $1.6m cap impact on franking credits proposal

The Association of Superannuation Funds of Australia has warned that the Labor Party’s proposal to abolish refundable franking credits needs to take into account the bedd...

Policy & Regulation

APRA finalises cyber security prudential standard

The Australian prudential regulator has finalised the standard aimed at combating the threat of cyber attacks....

Gov puts confidence behind APRA chair

The Morrison Government has reappointed Australian Prudential Regulation Authority (APRA) chair, Wayne Byres, for five more years....

Policy & Regulation

Gov puts money, confidence behind APRA chair

The Morrison Government has reappointed Australian Prudential Regulation Authority (APRA) chair, Wayne Byres, for five more years and committed $58.7 million of new fundi...

Superannuation

Govt puts super fund governance back on agenda

Despite suggestions it had shelved its push for majority independent directors on superannuation fund boards, the Government has made clear the issue remains very much al...

Policy & Regulation

Life insurer claims data provision made mandatory

Life insurance companies are now under a legal obligation to provide consistent data on claims and disputes to the Australian Prudential Regulation Authority and the Aust...

Financial planning

VOFF letter added to Coalition’s woes

Victims of Financial Fraud has written to Treasurer Josh Frydenberg to remind him how vehemently the party objected to holding a Banking Royal Commission. ...

Superannuation

Super funds baulk at operational risk reserving

Major superannuation funds have expressed concern at having to retain at least 0.25 per cent of their funds under management to meet operational risk financial requiremen...

Policy & Regulation

Regulators failed to stop misconduct: Hayne

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has slammed the industry regulators for failing to sufficiently punish...

Policy & Regulation

Licensees, not planners face RC-imposed changes

Financial services licensees rather than individual planners are facing the most change likely to result from the preliminary findings of the Royal Commission into Miscon...