SYDNEY, Oct. 7 -- Australian Prudential Regulation Authority issued the following media release:
The Australian Prudential Regulation Authority (APRA) has called on superannuation trustees to accelerate and escalate efforts to safeguard members' investments held in platform products.
This follows:
* APRA's publication of a letter to platform trustees today, which sets out APRA's key findings and required actions following its thematic review of platforms;
* ASIC's investigation and enforcement action relating to the collapse of the Shield and First Guardian managed investment schemes, numerous financial advisers, and Equity Trustees Superannuation Limited (ETSL);
* the recent commitment by Macquarie Investment Management Ltd (MIML) to ...