Welcome to the latest issue of the KHQ Super Alert. This week, APRA issued its finalised remuneration guidance (CPG 511) and APRA’s Executive Board Member, Margaret Cole, delivered a speech on super’s sustainability. We also summarise a recent decision of the District Court of South Australia, which highlights the tension between the requirements for trustees … Read more
Welcome to the latest issue of the KHQ Super Alert. This week, ASIC extended the temporary COVID-19 advice relief for financial advisers and requested relevant entities review their whistleblower policies. APRA released the results of its pilot risk culture survey and indicated that a more comprehensive survey will be rolled out in 2022. APRA – … Read more
Welcome to the latest issue of the KHQ Super Alert. ASIC registered a number of instruments in relation to the new design and distribution obligations and director identification number regimes. APRA has also updated its list of frequently asked questions regarding the 2021 MySuper Product Heatmap. APRA – MySuper Product Heatmap FAQs updated On 6 … Read more
Welcome to the latest issue of the KHQ Super Alert which follows a particularly busy week of news. Treasury has released consultations in relation to the new retirement income covenant and the regulations to support the ‘Better Advice’ Bill. APRA provided an update regarding its key priorities for the remainder of 2021 and also released … Read more
Welcome to the latest issue of the KHQ Super Alert, issued on Thursday this week because of Victoria’s public holiday tomorrow. APRA released a number of new data reporting standards and announced that the finalised standard and guidance in relation to insurance in superannuation is likely to be released in the coming months. Meanwhile, ASIC … Read more
Welcome to the latest issue of the KHQ Super Alert which provides an overview of this week’s superannuation developments. This week, ASIC published its regular enforcement update, as well as guidance in relation to compliance with the new breach reporting obligations. APRA announced that its new data collection solution, APRA Connect will go live next … Read more
On 6 August 2021, the Treasury registered the Financial Sector Reform (Hayne Royal Commission Response) (Hawking of Financial Products) Regulations 2021 (Cth) (the “Regulations”) on the Federal Register of Legislation. These Regulations specify exceptions to the prohibition on the hawking of financial products, a prohibition recommended by the Royal Commission and subsequently implemented in the … Read more
Welcome to the latest issue of the KHQ Super Alert. This week AFCA released a summary of the complaints which it received in the 2020/21 financial year. ASIC has provided a summary of the industry’s response to its consultation on access to financial advice. AFCA – Summary of complaints in FY 2020/21 On 5 July … Read more
Welcome to the latest issue of the KHQ Super Alert which is lengthy compared with the last issue’s quiet news week. Three consultations have been released in relation to: the new breach reporting framework (ASIC), climate change risks (APRA) and the proposed single disciplinary body for financial advisers (Treasury). Regulations have been registered to provide … Read more
