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APRA publishes additional FAQs on Superannuation Data Transformation Phase 1 reporting standards
The Australian Prudential Regulation Authority (APRA) has published additional frequently asked questions (FAQs) for registrable superannuation entity (RSE) licensees to provide further guidance on meeting the Reporting Standards for Phase 1 of the Superannuation Data Transformation.
APRA is releasing FAQs on a regular schedule in the lead up to the first collection of data under the new Reporting Standards on 30 September 2021. APRA will inform reporting entities and subscribers of updates to the FAQs as these occur.
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The Australian Prudential Regulation Authority (APRA) has approved IOOF’s bid to acquire MLC, including responsible superannuation entity (RSE) NULIS Nominees (Australia) Limited.
On 31 August, 2020, IOOF entered into an agreement with National Australia Bank (NAB) to acquire MLC wealth management businesses.
In an announcement to the Australian Securities Exchange (ASX), IOOF said it was working with NAB towards a completion date of 31 May, 2021 post market close.
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The Reserve Bank of Australia will not intervene to curtail surging house prices, with the bankâs deputy governor arguing other tools are available to governments to address equity issues in the property market.
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RBA deputy governor Guy Debelle.Â
Alex Ellinghausen
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By Kate Weber on May 6, 2021 12:44PM
Now well advanced with cloud migration.
NAB said a major insourcing drive had brought forward timelines on big projects and led to an upskilling of internal IT staff.
The bank reported its own in-house technology and operations now represented 68 percent of its technology workforce, up from 30 percent three years ago.
NAB said that since 2018, it has built approximately 120 microservices and 1600 APIs - up from 1200 in September last year, and has moved 45 percent of its apps to run in the cloud.
In its half-year results released Thursday, NAB chief executive Ross McEwan said technology is “critical” to “achieving or strategic growth and cost ambitions”.