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APRA deputy chair Margaret Cole has put super funds on notice over their expenses bill.

How super funds are spending your money

Australian super funds’ expenses swelled to almost $13 billion last financial year, including a $500 million splurge on an advertising and sponsorship blitz.

  • Sumeyya Ilanbey

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Joe Longo said ASIC’s high-profile investigation into ANZ was one of the most complex investigations the regulator had undertaken.

‘Serious issues’: ANZ to learn its fate over governance scandal by mid-year

ASIC chair Joe Longo said the probe into allegations ANZ traders manipulated the bond rate was one of the most complex investigations the regulator had undertaken.

  • Sumeyya Ilanbey
Federal Court documents show hundreds of messages the financial regulator will rely on in its case against Michael O’Connor, the national secretary of CFMEU’s manufacturing division.

Messages show how powerful union slugged workers’ retirement savings

When a $2.4 million contract between the CFMEU and industry fund First Super was up for renewal, a long-serving union secretary allegedly saw a profitable opportunity.

  • Sumeyya Ilanbey
Wayne Swan appeared before a Senate committee on Friday morning.

Wayne Swan defends controversial CFMEU appointments to Cbus board

The super giant’s chairman was hauled before a Senate committee, where he was grilled over the governance failings engulfing the embattled fund.

  • Sumeyya Ilanbey
Jim Chalmers in question time on Monday.

$27 billion blowout as Chalmers admits budget sinking further into red

The nation’s finances will be a key battleground at next year’s election. New figures suggest the budget bottom line is getting much worse.

  • Shane Wright
CFMEU national boss Paddy Crumlin’s Cbus board nomination has been accepted.

Cbus board appointments prompts tough talk from APRA

The regulator has raised doubts over whether Cbus has completed the necessary processes under its licence conditions, after the fund said three CFMEU-linked directors had passed a fit and proper persons test and would be appointed to its board.

  • Sumeyya Ilanbey
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The restrictive serviceability buffer for borrowers is “not good for competition, and it’s not good for customers”, new Bendigo and Adelaide Bank chief executive Richard Fennell said.

Relax lending rules to boost mortgage competition: Bendigo CEO

Bendigo’s new chief says rules that require banks to test if a customer could handle a 3 percentage point interest rate rise are “not good for competition”.

  • Sumeyya Ilanbey
APRA’s Margaret Cole is keeping a close eye on super funds’ spending. The regulator this week released inaugural data showing the scale of funds’ expenditure.

Aussie super funds racked up $12b in expenses. See how much your fund is spending

Should superannuation funds spend millions of dollars on advertising? What is the financial benefit of sponsoring AFL teams? These are the questions the regulator has been asking.

  • Sumeyya Ilanbey and Craig Butt
ANZ executive Mark Whelan.

‘Not happy with us’: ANZ scrambles to get its house in order amid scandals

ANZ has been battling to contain the fallout from a suite of scandals in the bank’s institutional division over the past few months.

  • Sumeyya Ilanbey
Most agree there is a cohort of young or less affluent Australians who can’t buy into the housing market.

Should it be easier for the banks to give you a home loan?

If a range of sugar-hit policies spur fresh demand leading to higher property prices, ownership could remain beyond the reach of many Australians.

  • Elizabeth Knight

Original URL: https://www.theage.com.au/topic/australian-prudential-regulation-authority-jl7