The prudential regulator has finalised its revisions to its insurance in superannuation prudential standards and has made changes following industry consultation.
The Australian Prudential Regulation Authority’s (APRA’s) Prudential Standard SPS 250 Insurance in Superannuation (SPS 250) was due to commence on 1 July, 2022.
The finalisation of the standard fulfilled recommendations 4.14 and 4.15 of the Hayne Royal Commission and the regulator had now finalised tis response to all 10 recommendations directed to it.
APRA said the key changes made to the finalised framework included:
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.