This Month
- Opinion
- Chanticleer
Cbus must heed its last warning, or risk a crisis
APRA’s concerns have echoes of scandals in the banking sector, the casino industry and at PwC. The fund must act to fix its risk and operational weaknesses.
- James Thomson
- Updated
- Superannuation
APRA to investigate Cbus spending amid governance concerns
The prudential regulator repeatedly warned the industry fund that it had failed to fix risk management issues and will now investigate payments to its union backers.
- Updated
- Lucas Baird
Revealed: Cbus’ secret governance report details deep union ties
Commissioned in 2015, the review found the super fund was reliant on the CFMEU to enforce the payment of super in a difficult industry, creating big risks.
- Lucas Baird
January
Warning to big super: fix customer service, or we’ll see you in court
Labor’s plan to force superannuation funds to meet minimum standards will add fuel to regulators Margaret Cole and Simone Constant’s 2025 ambitions.
- Hannah Wootton
Super has turned into ‘massive inheritance scheme’: Grattan Institute
The leading think tank has called for the federal government to create a lifetime annuity to ensure retirees receive an income for life.
- James Hall
Asset managers see opportunities in APRA’s bank hybrid ban
Investors will have to find somewhere to park $43 billion in capital after the prudential regulator decided to phrase them out. Some firms see their chance.
- Lucas Baird
Metrics to call Martin Place home amid private credit boom
One of Australia’s largest non-bank lenders will swap a heritage-listed boutique office in North Sydney for a place in the Sydney CBD.
- Campbell Kwan
Government floats loosening ATO secrecy on money-laundering, takeovers
The proposals are the latest in the government’s ongoing response to the PwC tax leaks scandal.
- Maxim Shanahan
Prudential watchdog must release secret Cbus review: advice
New advice from the clerk of the Senate argues APRA has no grounds to keep the critical review secret from parliament.
- Lucas Baird
December 2024
What the average first home buyer looks like (according to the banks)
The country’s biggest lenders have offered a glimpse into their lending habits in the midst of a debate over whether to ease rules for younger borrowers.
- Lucas Baird
Troubled RAMS trips to $18.6m loss
Westpac had earlier in the year failed to find a buyer for the business, which is involved in two court cases alleging fraud.
- Lucas Baird
- Opinion
- Chanticleer
Super’s $500b unlisted asset problem isn’t going away
APRA has found another area where near enough just isn’t good enough for Australia’s large and systemically important super sector.
- James Thomson
Super boards, executives failing on unlisted asset valuations
The regulator demanded funds sharpen their review processes, warning it will not hesitate to take further action and may pursue individuals.
- Hannah Wootton
Barrenjoey stokes political debate over APRA’s home-lending policy
The investment bank says a Coalition-led Senate committee report last month – challenging the prudential regulator on first home buyers – “appears logical”.
- James Eyers
- Opinion
- Letters to the Editor
Think of the children, Rupert
Readers’ letters on APRA’s move against the bank hybrid market; the Albanese government’s response to antisemitic attacks; the CSIRO and the nuclear debate; the fight within Rupert Murdoch’s family.
- Exclusive
- Executive pay
AGM strike threat looms for ANZ over CEO Elliott’s pay
The bank’s board is grappling with an investor revolt over executive remuneration due to a lack of “genuine accountability” following the bond scandal.
- Lucas Baird
APRA winds down $43b bank hybrid market, angering investors
The prudential regulator says other forms of capital are safer and make it easier for issuers to respond to future crises without bailing in retail investors.
- Updated
- John Kehoe and Jonathan Shapiro
- Exclusive
- Public service
How many can you name? The 30 public servants earning more than $1m
Executives from NBN Co, Australia Post and Snowy Hydro topped the latest leaderboard for public service and government-owned business pay packets.
- Tom McIlroy
Architect of Murray inquiry says banks can be agents of growth
David Murray is still railing against a “one-size-fits-all approach” to governance, which he says has forced banks to drop gas clients and let private credit sneak in.
- James Eyers
Wayne Swan’s Cbus testimony an unexploded bomb
A discrepancy has now emerged between Wayne Swan’s (very) recent Senate testimony and the findings of a review dated two days before his appearance.
- Myriam Robin