Govt’s pointed messages to ASIC and APRA

Treasury expects regulators to do the heavy lifting

Treasury has released new Statements of Expectations (SoE) for the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC), with an emphasis on how the regulators should promote a more sustainable and secured financial ecosystem. The government has laid expectations on regulators to promote the "sound functioning" of the financial system, reminding both to consider the regulatory impact o…

Govt’s pointed messages to ASIC and APRA

ANALYSIS The Government has sent a clear signal to superannuation fund trustees that they remain under scrutiny along with strong nudges of ASIC and APRA. The signal has been sent via the Treasurer, Jim Chalmer’s release of statements of expectations for both the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC). While the annual statements of expectations can generally be regarded …