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Inside track: Superannuation, Funds Management & Financial Services

20 April 2020

#Superannuation, Funds Management & Financial Services

Inside track: Superannuation, Funds Management & Financial Services

In the media

APRA acknowledges early release departure from usual fraud controls
Speedy handling of early release superannuation payments will mean that the super funds won’t be able to implement fraud measures  in order to ensure payments are made to members as soon as practicable (16 April 2020).  More...

APRA publishes new frequently asked questions on the temporary early release of superannuation benefits in response to COVID-19
The Australian Prudential Regulation Authority (APRA) has published two new frequently asked questions (FAQs) setting out its expectations for superannuation trustees on the release of benefits under the COVID-19 temporary early access to superannuation provision (16 April 2020).  More... 

APRA announces new commencement dates for prudential and reporting standards
APRA – 16 April 2020 - The APRA has announced new commencement dates for six prudential and reporting standards that have been finalised but are yet to fully come into effect. The affected standards and their revised commencement dates are set out in the table (16 April 2020).   More...

AFCA gives more time to resolve complaints
The Australian Financial Complaints Authority (AFCA) will give consumers, small businesses and financial firms extra time to respond to complaints due to the COVID-19 pandemic (16 April 2020).  More...

Early access to super COVID-19 measure: Joint bodies ensure Australians can easily access professional advice
Five major Australian professional bodies – CPA Australia, Chartered Accountants Australia and New Zealand (CA ANZ), SMSF Association, FPA and the IPA – have joined forces to ensure Australians can get the advice they need to understand the Federal Government’s COVID-19 economic packages, including early access to their superannuation (14 April 2020).   More... 

ASIC grants relief to industry to provide affordable and timely financial advice during the COVID-19 pandemic
ASIC has announced three temporary relief measures that will assist industry in providing consumers with affordable and timely advice during the COVID-19 pandemic (14 April 2020).   More... 

ASIC to provide additional time for unlisted entity financial reports
ASIC announced that it will extend the deadline for unlisted entities to lodge financial reports under Chapters 2M and 7 of the Corporations Act 2001 (the Act) by one month for balance dates from 31 December 2019 to 31 March 2020 (09 April 2020).   More...

More than 600,000 Australians apply for early release of superannuation
Hundreds of thousands of Australians apply to get an early release of their superannuation under the Federal Government's plan to help people out of work and facing financial hardship during the coronavirus pandemic (09 April 2020 ).  More...

APRA suspends issuing of licences
APRA will suspend the issuing of new licences due to the fundamental change in the economic and social environment, for at least six months as it does not consider it “prudent” to issue new licences at this time (08 April 2020).  More...

Disclaimer
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.

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