Rollover notes that just a week after the Australian Prudential Regulation Authority had told a Parliamentary Committee that no fewer than 13 superannuation were exiting the industry the regulator was turning its sights on more funds.
Outlining its policy priorities for 2019, APRA said its plans included:
- ensuring superannuation trustees are prepared to implement the new member outcomes assessments from 1 July (including any amendments required by legislative changes);
- completing the post-implementation review of the prudential framework introduced in response to 2013’s Stronger Super reforms, and consulting on proposals to address areas where changes are needed; and
- updating the superannuation data collection, with a particular focus on expanding the information collected on choice products.
In other words, superannuation fund compliance personnel will be kept busy this year and APRA personnel will be kept busy appearing to be busy.
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