1-10 of 393 results

Retirement income covenants (and egg metaphors)
Insight 20 Dec 2021

The long-promised retirement income covenants are slated to come into effect on 1 July 2022. The proposed covenants are aimed at improving retirement outcomes, including by moving retirees away from a 'nest egg' mentality towards spending more in retirement – or 'hatching' the nest egg (to borrow the extended metaphor of APRA's Deputy Chair). ...

APRA guidance on managing climate change financial risks finalised for banks, insurers and superannuation trustees
Insight 20 Dec 2021

Delivering as promised before the end of 2021, APRA recently finalised its prudential practice guide CPG 229 Climate Change Financial Risks. ...

Expansion in scope of transactions subject to FIRB approval rules
Insight 15 Dec 2021

In this Insight, we look at the changes and comment on what they mean for transactions. The changes to the SOCI Act also have operational implications for many businesses – which we will separately publish on. ...

Portfolio Holdings Disclosure regulations: key aspects of the revised regime
Insight 30 Nov 2021

The long-awaited Portfolio Holdings Disclosure (PHD) regulations were made on 11 November 2021, which will give superannuation trustees certainty about the manner in which portfolio holdings information needs to be disclosed to the public. ...

ASIC consults on relief for superannuation calculators and forecasts
Insight 30 Nov 2021

ASIC has released Consultation Paper 351: Superannuation forecasts: updates to relief and guidance seeking feedback on proposals to extend and expand the relief for superannuation calculators and retirement forecasts. It has also released the draft relief instrument and draft regulatory guide. ...

What APRA's proposed changes to SPS 530 Investment Governance and findings on unlisted asset valuations mean for superannuation investments
Insight 22 Nov 2021

As promised in its 2021 Policy Priorities, APRA has released its draft revised prudential standard Investment Governance (SPS 530) for RSE licenses, and the outcomes of its review of unlisted asset valuations, as part of its report titled Findings from APRA’s superannuation thematic reviews. ...

Privacy Act reforms: a new Online Privacy Code
Insight 08 Nov 2021

In late October, the Attorney-General's Department released a long-awaited Exposure Draft of the Privacy Legislation Amendment (Enhancing Online Privacy and Other Measures) Bill (Online Privacy Bill) to amend the Privacy Act 1988 (Privacy Act). ...

October compliance deadlines: rounding up the last-minute changes
Insight 27 Oct 2021

October marks the commencement of the design and distribution obligations (DDO) regime, the deferred sales model for add-on insurance (DSM), changes to the anti-hawking rules, refreshed standards for internal dispute resolution systems and, to top it all off, a new breach reporting regime. ...

ASIC publishes updated guidance on hawking reforms
Insight 27 Oct 2021

Under the new hawking prohibition in sections 992A and 992AA of the Corporations Act 2001 (Cth) (Corporations Act), a person must not offer a financial product to a retail client (consumer) in the course of, or because of unsolicited, real-time contact. ...

Captive to no one: Australian Government releases its Ransomware Action Plan
Insight 18 Oct 2021

The Department for Home Affairs has released the Australian Government's Ransomware Action Plan (the Plan). This development forms part of the Government's Cyber Strategy and is the latest in a series of actions taken by the Government to combat the escalating threat of ransomware and extortion. ...

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