APRA

APRA sets out superannuation policy priorities for 2018

APRA has outlined its superannuation policy priorities for 2018, including a comprehensive post-implementation review of the superannuation prudential and reporting framework. “Promoting improved governance and management in the superannuation sector is an ongoing priority for APRA, and one which has seen enhanced focus during the last year across APRA’s supervision… Read More »APRA sets out superannuation policy priorities for 2018

APRA proposes super fund regulation changes, “independent” of Government

APRA is consulting on changes to prudential regulation of large superannuation funds, proposals which it says are independent but aligned with changes put forward by the Government. “The package outlines proposed changes to the prudential framework designed to enhance strategic and business planning, oversight of fund expenditure and the assessment… Read More »APRA proposes super fund regulation changes, “independent” of Government

APRA to target poor performing super funds in prudential changes

APRA will be targeting poor performing superannuation funds in upcoming changes to prudential regulation. APRA Deputy Chairman Helen Rowell told the 2017 ASFA Conference that the regulator would soon be releasing for consultation a package of proposed prudential framework revisions, including “changes to promote greater transparency, especially around expenditure, and… Read More »APRA to target poor performing super funds in prudential changes

APRA has concerns over super fund conflicts of interest

APRA, conflicts of interest, RSE licensees (Registrable Superannuation Entity), super fundsAPRA has written to RSE (Registrable Superannuation Entity) licensees with concerns around the management of conflicts of interest.

The letter reveals that in 2014 APRA conducted a review to “assess how the superannuation industry was implementing SPS 521 [Superannuation Prudential Standard: Conflicts of Interest] requirements relating to managing conflicts of interest.”

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APRA starts to release MySuper statistics

APRA MySuper statisticsARPA has started to release MySuper superannuation fund statistics. According to APRA there are 116 MySuper products, holding total assets of $ 363.2 billion.

“The statistics provide a central source of information on MySuper products and support the broader transparency objectives of the Stronger Super reforms,” said APRA member Helen Rowell.

This release of statistics covers the September 2013, December 2013, March 2014 and June 2014 quarters. APRA has a duty under the SIS Act to publish quarterly MySuper Statistics, including “fees charged, costs incurred and net returns”.

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