Page 3 - Wayne Byres News Today

Bond traders that serve to insure the banks against systemic catastrophe have been rattled by comments from the outgoing and new APRA chairmen.

Transamerica Life Bermuda appoints new COO; Brighter Super hires head of cash, fixed income and credit; Unisuper welcomes new head of advice; Fidelity appoints new director of institutional business; T Rowe Price names distribution head for APAC; Apra welcome new chair and board appointees; head of ESG research leaves Maitri AM; and more

The Treasurer has announced who will take over from Wayne Byres as chair of the Australian Prudential Regulation Authority. John Lonsdale, currently APRA’s deputy chair, will take on the role of APR

John Lonsdale will take over as chair of APRA, with Margaret Cole now a deputy chair.

The prudential regulator has a new chair, deputy chair, and members

Australia's banking regulator is picking and choosing which banks it is allowing to get away with breaking the law by misreporting whether their sites offer cash service provided by a teller.

ASIC’s crackdown on product disclosures continues. ASIC has issued 11 design and distribution obligations stop orders, with the first stop orders being issued in July. Latest interim stop order prevent a fund management firm from distributing three funds to retail investors.

Making news this week... Falling housing prices “not all downside”, says outgoing APRA chair; Heartland to acquire Challenger Bank; calls to slash red tape amid housing crisis; RBA makes a case for slowing rate rises; and more.

According to outgoing APRA chair, the evidence is clear that size in the super sector “helps deliver better member outcomes”. In his last official speech as APRA chair, Wayne Byres, reflected

Departing APRA chair Wayne Byres has made parting shot at the superannuation sector, saying one of the things he is most proud of is the increased transparency the regulator has driven in an industry where "self-interest can sometimes outweigh member interest.