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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Bill introduced for “Independent Directors”

Legislation to mandate independent directors for superannuation trustees was introduced on 16 September 2015. A number of changes have been made since the Exposure Draft was issued in June. The most significant changes are to the meaning of “independent”. We have prepared a comparison of the relevant tests of independence under the Exposure Draft and the…

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