APRA

Policy & Regulation

It’s official: ASIC uncoupled from public service

The Australian Securities and Investments Commission has been formally legislatively uncoupled from the Australian Public Service, allowing it to employ people on competi...

Policy & Regulation

When bank executives escape punitive pay cuts

The Australian Prudential Regulation Authority has pointed to multiple instances where lower level bank employees have suffered pay cuts related to failures, but their ex...

Financial planning

AMP Super had no knowledge of AMP adviser activity

The Royal Commission has been told that the AMP Super trustee had little or no knowledge of what AMP advisers were doing in relation to recommending superannuation produc...

Policy & Regulation

Government creates second APRA deputy chair role

In an effort to strengthen the regulator, the Turnbull Government has nominated Treasury veteran John Lonsdale to fill a newly created second deputy chair role at the Aus...

Policy & Regulation

Give us more powers, says APRA

The Australian Prudential Regulation Authority (APRA) has told the Productivity Commission it needs more powers and that its lack of powers has inhibited its ability to b...

Life/Risk

APRA backs life insurers on worker rehabilitation

The Australian Prudential Regulation Authority has backed life insurers playing a greater role in injured worker rehabilitation subject to a unified approach with other i...

Superannuation

Has PC opened SMSFs to attack?

The Productivity Commission has been warned that both its methodology and attitude to self-managed superannuation funds may have opened the sector to attack from other el...

Policy & Regulation

AFCA will start with 550 staff on board

The new Australian Financial Complaints Authority will kick off with a staff of around 550 people with the industry providing funding based on an APRA-style levy....

Superannuation

Class points out gaps in PC’s super report

Class Limited has highlighted what it describes as significant SMSF gaps in the Productivity Commission's Superannuation Report and said is performing its own analysis to...

Superannuation

RC paper notes ‘unspecified’ industry fund expenses

A Royal Commission background paper has noted the ‘relatively high proportion’ of industry fund expenses not explained through publicly-available data....

Financial planning

Make insurer claims-handling performance public, says AFA

The Association of Financial Advisers has urged the Australian Prudential Regulation Authority to make the claims-handling performance of the major life insurers public, ...

Superannuation

Yes, SMSFs do use APRA funds to access group insurance

The SMSF Association has confirmed just how common it is for self-managed superannuation fund trustees to maintain low balances in Australian Prudential Regulation Author...

Superannuation

APRA warns Govt on insurance inside super

The Australian Prudential Regulation Authority has confirmed that removing the compulsion from insurance inside superannuation for those aged under 25 will have serious i...

Life/Risk

Disability insurance products risk unsustainability: APRA

The Australian Prudential Regulation Authority has shown concern that poor disability income insurance, reporting that the performance and sustainability of DII products ...

Superannuation

APRA confirms cash ain’t cash for some super funds

The Australian Prudential Regulation Authority has warned superannuation funds to stop claiming non-cash investments such as mortgage-backed securities are equivalent to ...