The Australian Prudential Regulation Authority (APRA) has released draft guidance on a number of prudent practices for APRA-regulated superannuation trustees.
APRA has also released a discussion paper to assist in public consultation on the four new draft guides:
- draft Superannuation Prudential Practice Guide – SPG 110 – Capital;
- draft Superannuation Prudential Practice Guide – SPG 200 – Risk Management;
- draft Superannuation Prudential Practice Guide – SPG 230 – Adequacy of Resources; and
- draft Superannuation Prudential Practice Guide – SPG 530 – Fitness and Propriety.
The release of the discussion paper and draft superannuation guides follows the release for consultation earlier this year of revised guidance on reserves and conflicts of interest.
The four prudential practice guides address measures that might be employed by a trustee and its directors to satisfy obligations imposed under legislated licence conditions, various operating standards and other provisions under the Superannuation Industry (Supervision) Act 1993 (SIS Act) and its regulations.
