Lessons and a warning for super fund directors and senior executives

On 1 May, the Federal Treasurer issued a severe warning for directors and senior executives of financial institutions.  He said that APRA’s Report into breaches by the Commonwealth Bank is “required reading” for all financial institutions – not just bank boards and they need to: “read it very closely and ask themselves the hard questions…

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The impact of the CommInsure debacle on Trustees

It is doubtful that anyone in Australia has failed to hear about the fiasco faced by CommInsure.  The repercussions have extended to the Commonwealth Bank and other insurance companies.   It has also impacted superannuation fund trustees, particularly those whose external insurer is CommInsure. The fallout for superannuation funds is not only on the reputation of…

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