Regulatory AlertsSPS 521 Conflicts of Interest
The Australian Prudential Regulation Authority issued Prudential Standard SPS 521 to require all registrable superannuation entity licensees to establish a Board-approved conflicts management framework. This framework mandates the identification, avoidance, and management of conflicts of interest and duty through a comprehensive policy and up-to-date registers of relevant duties and interests. Licensees must conduct comprehensive independent reviews of their framework every three years and annual internal reviews to ensure ongoing compliance with the Superannuation Industry (Supervision) Act 1993.
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