The prudential watchdog says it will tighten the screws later this year on how superannuation funds value their mammoth unlisted asset portfolios, warning there is “room for improvement” despite an earlier crackdown on subpar practices.
The Financial Regulator Assessment Authority has warned that the Australian Prudential Regulation Authority had taken a reactive and immature approach to scrutinising the funds’ valuation processes, putting Australians’ retirement savings at risk.
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