APRA releases guidance on the implementation of the Putting Members' Interests First Legislative Amendments
The Australian Prudential Regulation Authority (APRA) has released a letter to all RSE licensees outlining new guidance for the implementation of the Treasury Laws Amendment (Putting Members' Interest First) Act 2019.
This guidance includes details on the dangerous occupation exception election and withdrawal templates and answers to frequently asked questions.
Copies of the letter are available here.
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.