APRA

Financial planning

Climate change part of clients’ best interest

Whether or not a client is interested in responsible investing will be moot as climate change will need to be considered by advisers as part of best interests duty, accor...

Policy & Regulation

APRA finalises climate change guide

The prudential regulator has released its practice guide on climate change financial risks which will assist banks, insurers and superannuation trustees to manage the fin...

Life/Risk

Group lump sum still suffering losses

Despite some improvements in risk product profits, group lump sum and group disability income insurance made losses over the year to September. ...

Superannuation

APRA’s heatmap is unclear for consumers

Australian superannuation members are unlikely to view and understand the MySuper Heatmap because of its complexity and unclear presentation, according to Chant West’s ge...

Superannuation

APRA places new license conditions on EISS Super

EISS Super will need to implement a strategy to merge with a larger, better performing fund under the regulator’s new license conditions....

Superannuation

APRA finalises prudential framework for insurance in superannuation

The prudential regulator has finalised revisions to requirements and guidance for insurance in superannuation, fulfilling two Royal Commission recommendations....

Superannuation

Failed MySuper members not moving funds

Data from the prudential regulator has found members of underperforming super funds are not moving in significant numbers, despite receiving communication about the perfo...

Features

InFocus: Keeping up with the regulator’s changing expectations

Superannuation funds need to keep up with changing community expectations that can lead to regulatory changes with the latest one regarding marketing and sponsorship expe...

Superannuation

Merger talks for five failed super funds

Five of the 13 funds that failed the performance test are in merger talks and the prudential regulator is looking at ways to simplify the merger process. ...

Superannuation

Members should not be stapled to dud funds: AIST

Following the release of Choice super data, the Australian Institute of Superannuation Trustees is calling for the Government to amend legislation to prevent any member b...

Superannuation

Sponsorship deals require quantitative data: APRA

While there is a justification for superannuation funds spending money on marketing and sponsorship, this should be measured by clear metrics rather than its own qualitat...

Superannuation

Funds that resubmitted YFYS performance test data

Forty MySuper products resubmitted material data in relation to the Your Future, Your Super performance test. ...

Superannuation

What will APRA find on Cbus’ AFL spend?

The prudential regulator will publish its findings of its investigation into the impact of the best financial interests duty on marketing expenditure of 12 superannuation...

Financial planning

Investment landscape still attractive

Despite concerns, the current market environment is better than many think thanks to support from central banks and governments....

Life/Risk

Complaints data further highlight income protection issues

Income protection complaints accounted for the most complaints in regards to life insurance during FY2020-21, especially when it came to the calculation of benefits for b...