APRA tightens Mercer’s super licence over risks, compliance failures
Hannah WoottonReporter
The prudential watchdog has tightened Mercer Super’s licence to protect customers over concerns the $70 billion fund was failing to manage risks and compliance to the standard required by law.
The Australian Prudential Regulation Authority (APRA) ordered Mercer to bring in an independent expert to develop and enact a remediation plan fixing the shortfalls under the new licence conditions.
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