QMV SuperBrief Issue #21 of 2015

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While all care has been taken to ensure the accuracy of the information presented, QMV Super Solutions is not responsible for any loss or damage suffered in relying on the information presented. QMV Super Solutions specialise in the delivery of world-class technology and business solutions for the superannuation and wealth management industries. With a fresh approach to solving complex process issues, our tailored solutions are delivered by a bright young team who are experts in their fields, and passionate about results. qmvsupersolutions.com QMV CUSTODIAL SERVICES National Australia Bank Asset Servicing (NAS) and CareSuper have renewed their $10 billion custodial services partnership following a tender process. NAS remains the largest custodian in the Australian market with $692 billion in assets under custody, despite several high profile Australian customers recently changing custodian. Source: Financial Standard GREEN BONDS ANZ has released a statement concerning the use of a green bond – certified by the Climate Bonds Initiative (CBI) – to finance existing ANZ loans that develop low carbon industries, technologies and practices. The portfolio includes loans to wind, power and solar projects, as well as Green Star-rated commercial property in Australia, NZ and Asia. Source: Financial Standard NUMBERS & STATISTICS The Australian Bureau of Statistics (ABS) has released Australian managed fund statistics. As at 31 March 2015, there was $2,618.7b funds under management, an increase of $114.2b (5%) on the December quarter 2014 figure of $2,504.5b. Source: ABS APRA FUND DATA The Australian Prudential Regulation Authority (APRA) released a discussion paper on proposed changes to its annual superannuation statistical publications and confidentiality of superannuation data. APRA previously consulted on enhancements to its quarterly superannuation statistics and now publishes aggregate financial performance, financial position and asset allocation information in the Quarterly Superannuation Performance publication. Source: APRA ADMINISTRATION Superannuation administration service provider Mercer and Bravura Solutions has announced a partnership to commit to using Sonata, Bravura’s wealth management platform to underpin a major transformation program in its benefits administration division. Mercer will use Sonata to administer superannuation and KiwiSaver business for clients across both Australia and New Zealand. Source: Bravura Solutions FOFA COMPLIANCE The Future of Financial Advice (FoFA) reforms have been identified as one of the 20 most challenging pieces of regulation globally, according to a survey by Thomson Reuters of 600 compliance professionals across the world. FoFA was listed alongside changes such as the Basel III capital rules and the US Dodd-Frank Act, a major regulatory reform following the GFC that has often been compared to FoFA. Source: Thomson Reuters SUPERSTREAM The ATO confirmed that over 50,000 employers and 1 million super contributions are now being made under the SuperStream standard every month. The ATO has also reminded medium to large employers (those with 20 or more employees) to be compliant from 30 June. Source: ATO REFORM AGENDA Commonwealth Treasurer Joe Hockey has reiterated the Government's position that there will be no changes to the superannuation settings during the life of the current Parliament. Source: SuperReview SuperBrief Independent & Concise Issue #21 of 2015: Friday, 29 th May

Transcript of QMV SuperBrief Issue #21 of 2015

Page 1: QMV SuperBrief Issue #21 of 2015

While all care has been taken to ensure the accuracy

of the information presented, QMV Super Solutions

is not responsible for any loss or damage suffered in

relying on the information presented.

QMV Super Solutions specialise in the delivery of world-class technology

and business solutions for the superannuation and wealth management

industries. With a fresh approach to solving complex process issues, our

tailored solutions are delivered by a bright young team who are experts

in their fields, and passionate about results.

qmvsupersolutions.com

QMV CUSTODIAL SERVICES

National Australia Bank Asset

Servicing (NAS) and CareSuper

have renewed their $10 billion

custodial services partnership

following a tender process. NAS

remains the largest custodian in

the Australian market with $692

billion in assets under custody,

despite several high profile

Australian customers recently

changing custodian.

Source: Financial Standard

GREEN BONDS

ANZ has released a statement

concerning the use of a green

bond – certified by the Climate

Bonds Initiative (CBI) – to

finance existing ANZ loans that

develop low carbon industries,

technologies and practices. The

portfolio includes loans to wind,

power and solar projects, as

well as Green Star-rated

commercial property in

Australia, NZ and Asia.

Source: Financial Standard

NUMBERS & STATISTICS

The Australian Bureau of

Statistics (ABS) has released

Australian managed fund

statistics. As at 31 March 2015,

there was $2,618.7b funds

under management, an

increase of $114.2b (5%) on the

December quarter 2014 figure

of $2,504.5b.

Source: ABS

APRA FUND DATA

The Australian Prudential

Regulation Authority (APRA)

released a discussion paper on

proposed changes to its annual

superannuation statistical

publications and confidentiality

of superannuation data. APRA

previously consulted on

enhancements to its quarterly

superannuation statistics and

now publishes aggregate

financial performance, financial

position and asset allocation

information in the Quarterly

Superannuation Performance

publication.

Source: APRA

ADMINISTRATION

Superannuation administration

service provider Mercer and

Bravura Solutions has

announced a partnership to

commit to using Sonata,

Bravura’s wealth management

platform to underpin a major

transformation program in its

benefits administration division.

Mercer will use Sonata to

administer superannuation and

KiwiSaver business for clients

across both Australia and New

Zealand.

Source: Bravura Solutions

FOFA COMPLIANCE

The Future of Financial Advice

(FoFA) reforms have been

identified as one of the 20 most

challenging pieces of

regulation globally, according

to a survey by Thomson Reuters

of 600 compliance professionals

across the world. FoFA was

listed alongside changes such

as the Basel III capital rules and

the US Dodd-Frank Act, a major

regulatory reform following the

GFC that has often been

compared to FoFA.

Source: Thomson Reuters

SUPERSTREAM

The ATO confirmed that over

50,000 employers and 1 million

super contributions are now

being made under the

SuperStream standard every

month. The ATO has also

reminded medium to large

employers (those with 20 or

more employees) to be

compliant from 30 June.

Source: ATO

REFORM AGENDA

Commonwealth Treasurer Joe

Hockey has reiterated the

Government's position that

there will be no changes to the

superannuation settings during

the life of the current

Parliament.

Source: SuperReview

SuperBrief Independent & Concise

Issue #21 of 2015: Friday, 29th May