The month of April saw the release of the ASX’s consultation paper ‘Enhancing the ASX Investment Products Offering’, as well as the publication by APRA and ASIC of the latest data pertaining to claims and disputes outcomes for life insurance.
April also saw ASIC extend the relief from certain dollar disclosures in PDSs for litigation funding schemes and extend its CFD product intervention order. There has also been a strengthening of the governance practices of superannuation trustees in response to ASIC surveillance.
Updates from APRA during April included the opening of consultation for minor amendments to the significant financial institution definition and additional draft life and general insurance reporting standards impacted by AASB 17. APRA also launched the second phase of its project deepening the collection of superannuation data from across the industry, issued a letter with its initial risk management expectations and policy roadmap for crypto-assets, published updated FAQs on the Financial Claims Scheme for general insurance, issued a letter to general insurers proposing amendments to the prudential framework to support the Government’s cyclone and cyclone related flood damage reinsurance pool and made a minor amendment to CPS 226.
Read the full update here