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...
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.