Executive remuneration and accountability – the revised APRA CPS 511 Remuneration

12 January, 2021
On 12 November 2020, the Australian Prudential Regulation Authority (APRA) released a revised draft Prudential Standard CPS 511 Remuneration for consultation (Revised Draft CPS 511). The revised standard has moved away from the prescriptive requirements of the initial consultation draft, towards a ‘principles-based approach’, giving banks, superannuation funds and insurers greater latitude to determine and … Read more

Fair game: A sectoral focus on unfair terms in financial services

17 August, 2020
The unfair terms regime – a recap In Australia, the unfair terms regime has existed in various forms since the 1970s. In the present day, it exists in multiple federal legislative regimes, such as the Australian Consumer Law, the ASIC Act and the Corporations Act. These regimes are designed to ensure the protection of small … Read more

ASIC continues its focus on advertising and disclosure

16 June, 2020
Yesterday, ASIC provided an update on its surveillance activity on advertising and disclosure by investment funds, emphasising the importance of investment fund disclosure not being misleading and adequately addressing risk. It is important for licensees to bear in mind that the stance and views taken by ASIC can be applied equally to other products, such … Read more