QMV Legal Monthly Regulatory Update - August 2023

 

The Financial Accountability Regime legislation has finally passed both Houses of Parliament, but there are still several superannuation related bills before the Senate. APRA also released the final CPS 511 Remuneration Prudential Standard.

The 2023 Performance Test results were released, with trustee directed products included for the first time. Accompanying Regulations to improve the test were finalised, alongside a Determination on combining product histories.

Trustees may soon have clarity regarding the legality of appointing a new trustee for mergers or successor fund transfers (albeit only in NSW), whilst several other cases and enforcement activities were undertaken in the courts across the country. 

Jonathan Steffanoni - Managing Partner
QMV Legal

 
 

August 2023 - Monthly Legal and Regulatory Update

 

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