Our latest insights

On Thursday 11 November 2021, APRA announced its proposed new attachment to Prudential Standard APS 220 Credit Risk Management.

On 3 November 2021, the High Court of Australia handed down a landmark decision, ruling that the “backpacker tax” imposed on a UK national who was deemed to be an Australian tax resident was in breach of the non-discrimination clauses in the Australia-UK Double Tax Agreement.

The European Commission is leading a shift in sustainable finance.

Australian Superannuation assets equated to $2.8 trillion at the end of the September 2018 quarter – a figure that continues to grow as more Australians co-contribute to their superannuation funds as well as portfolio growth.

Increasing regulation, margin compression and investor demands for returns and transparency in a challenging global environment have brought new challenges to the asset management sector.

The digital age and smartphones are revolutionising the way we shop, but also the way we bank.

The Banking Executive Accountability Regime (BEAR) set out in Part IIAA of the Banking Act 1959, was introduced in February 2018.

APRA has now begun issuing notices to regulated financial institutions advising them to start preparing for CPS 234 tripartite reviews.

More M&A as Financial Services organisations seek to consolidate for improved customer experiences.

More M&A as Financial Services organisations seek to consolidate for improved customer experiences.

While COVID-19 presented a challenge to companies that few could have anticipated, it also acted as a catalyst. Companies were forced to review legacy structures to allow for more agile decision making, and to test their purpose and role in wider society. This report provides salient insights for Boards in Australia, as despite having a different Code in place that we report against, the key themes resonate with what we’re seeing here – purpose, culture, emerging risk management, stakeholder engagement, board effectiveness, remuneration, ESG, diversity and succession planning. It is also a strong indicator of what companies should be focusing on in the coming year.

Appropriate culture, governance systems and remuneration structures are critical to rebuilding trust in financial institutions and ensuring a resilient financial system. APRA, as the prudential regulator, plays a significant role in this through introducing new standards and its oversight regime.