The prudential regulator has released two further papers as part of its post-implementation review into the prudential framework of superannuation.
On 23 May, APRA released three topic papers as part of its post-implementation review of the superannuation prudential framework following the Stronger Super reforms in 2013.
Yesterday, the regulator released two more papers on the topics of ‘Financial requirements, operational risk and outsourcing’ and ‘Investments’.
The two papers outline the “objectives and key requirements” of particular prudential and reporting standards, as well as a number of questions aimed at seeking feedback on whether the standards “continue to remain fit for purpose”.
“The short topic papers seek to facilitate discussion and consideration of key elements of the prudential framework,” topic paper three said.
The feedback will enable consideration of the prudential framework’s effectiveness, give greater insight into the framework’s impact, and help identify areas for improvement.
It also aims to facilitate identification of areas for possible streamlining to reduce costs or improve outcomes, and ensure “full and appropriate consideration of the relevant areas and topics covered by the prudential and reporting standards is achieved”.
The topic papers can be found on APRA’s website, with two more papers yet to be released.
ASIC has proposed a ban on unsolicited telephone sales of life and consumer credit insurance following the royal commission recommendation. ...
The review into the capabilities of APRA was released this week and it found that APRA required a cultural change among a host of other chan...
The Finance Sector Union of Australia has urged government action on consumer credit insurance and bank cultural issues following ASIC’s r...