POWERED BY MOMENTUM MEDIA
APRA’s ‘inherent tension’ question
The ability of the Australian Prudential Regulation Authority (APRA) to maintain stability in the superannuation industry may be at odds with its ability to deal with issues in the industry, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has been told.
Setting the scene ahead of the Royal Commission’s hearings on the superannuation industry, counsel assisting the Royal Commission, Michael Hodge QC, pointed to an “inherent tension” confronting APRA in terms of industry stability and enforcement action.
Hodge similarly pointed to some of the overlaps and tensions with respect to the role of APRA and that of the Australian Securities and Investments Commission (ASIC) with respect to regulating the superannuation industry.
He signalled that the roles of the regulators with respect to superannuation would be examined later in the Royal Commission process.
Recommended for you
ASFA has urged greater transparency and fairness in the way superannuation levies are set and spent.
Labor’s re-election has reignited calls to strengthen Australia’s $4.2 trillion super system, with industry bodies urging swift reform amid economic and demographic shifts.
A major super fund has defended its use of private markets in a submission to ASIC, asserting that appropriate governance and information-sharing practices are present in both public and private markets.
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
36.96 3 y p.a(%)
3
GAM LSA Private Shares AU I
34.22 3 y p.a(%)
4
VanEck Video Gaming and eSports ETF (AU)
28.89 3 y p.a(%)
5
Plato Global Alpha A
28.83 3 y p.a(%)
