9 results

Retail banking and responsible lending during COVID-19
Insight 01 Jun 2020

The sudden and unknown nature of COVID-19 has triggered a global economic shock, and disrupted Australia's economy. As we enter a national state of economic 'hibernation', banks and lenders are grappling with a sudden influx of relief requests from consumer and business customers. ...

Joint ASIC and APRA letter to superannuation trustees, on the impact of COVID-19
Insight 02 Apr 2020

ASIC and APRA have written a joint letter to all RSE licensees reminding trustees of their obligations. Not unexpectedly, emphasis is given to the importance of reviewing and maintaining fund liquidity during this difficult period. ...

Impact of COVID-19 on superannuation
Insight 25 Mar 2020

The superannuation industry is facing some immense challenges in light of the rapidly developing COVID-19 pandemic. Early release of superannuation savings for members outlined in the Coronavirus Economic Response Package Omnibus Bill 2020 is just one aspect to consider. ...

Treasury's Exposure Draft Bills introduce important and significant changes
Insight 03 Feb 2020

On Friday the Government released a large package of Exposure Draft Bills to implement the last of the Financial Services Royal Commission recommendations. There are some important and significant changes and Treasury is consulting widely (although not for very long) and seeking feedback. ...

No safe harbours for mortgage brokers in latest reforms
Insight 27 Aug 2019

Hot on the heels of its Implementation Roadmap, the Federal Government has released draft legislation introducing a best interests duty and banning conflicted remuneration for mortgage brokers. This affects not only mortgage brokers but the existing safe harbour for financial advisers. ...

Treasurer's 'Roadmap' more a reminder than an explainer
Insight 19 Aug 2019

The Treasurer, the Honourable Josh Frydenberg, released the Government's 'Implementation Roadmap' today to 'provide clarity and certainty' about the Government's ongoing work to implement the recommendations of the Royal Commission ...

New draft APRA Prudential Standard (CPS 511) set to reshape group-wide remuneration frameworks and incentive arrangements for ADIs, superannuation funds and insurers
Insight 29 Jul 2019

APRA has released a discussion paper on its new prudential standard on remuneration (CPS 511), which will have far-reaching implications for variable remuneration structures across all APRA-regulated entities. ...

Final APRA Guidance on Information Security (CPG 234) released – are you prepared?
Insight 27 Jun 2019

APRA has released the updated final version of its Prudential Practice Guide, which gives crucial context about how it views cybersecurity threats, and clarifies some of the steps that should be taken now relating to board oversight, information security controls and notification of information security incidents. Partner Valeska Bloch and Associate Claudia Hall report. ...

New APRA prudential standard raises bar for information security obligations and incident notification requirements
Insight 15 Nov 2018

The Prudential Standard CPS 234 – Information Security (CPS 234), which commences from 1 July 2019, will apply to all APRA-regulated entities, including ADIs, general insurers, life insurers, private health insurers, licensees of registrable superannuation entities, and authorised or registered non ...

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