Remuneration

Recommendation 5.1 – Supervision of remuneration – principles, standards and guidance In conducting prudential supervision of remuneration systems, and revising its prudential standards and guidance about remuneration, APRA should give effect to the principles, standards and guidance set out in Read More …

10.2 Evidence

10.2.1 Energy Super In 2016, Energy Super was interested in merging with another superannuation fund. It thought that a merger would benefit its members through increasing membership numbers, changing its membership demographic and reducing administration costs.[1] It had held merger Read More …

4.6 What the case study showed

4.6.1Did Questor mislead TPS members in breach of section 12DA of the ASIC Act? Counsel Assisting submitted that Questor may have engaged in misleading and deceptive conduct, in breach of section 12DA of the ASIC Act, by sending the letter Read More …

4.2 The APRA proceedings

On 6 December 2018, APRA commenced proceedings against IIML, Questor, Mr Kelaher, and four other individuals holding senior positions at IOOF: the Chair, George Venardos; the Chief Financial Officer, David Coulter; the General Manager – Legal Risk and Compliance and Read More …

3.2 Evidence

3.2.1AMP superannuation funds ASL and NM have common boards of directors, and the boards operate concurrently.[1] Between them, ASL and NM are responsible for eight superannuation funds.[2] At August 2018, those funds had approximately $120 billion in funds under management.[3] Read More …