Business Services Industry

Superannuation watchdog bitten.

Australasian Business Intelligence, August, 2001

Aug 22, 2001 (The Daily Telegraph

ABIX via COMTEX) -- A Senate inquiry has criticised the Australian Prudential Regulation Authority (APRA) on 21 August 2001. APRA came under scrutiny following revelations that many superannuation funds were at serious risk. The report by the Senate Select Committee on Superannuation and Financial Services found that many trustees of smaller superannuation funds took unacceptable risks and APRA did not supervise their operation sufficiently.

AUSTRALIAN PRUDENTIAL REGULATION

      AUTHORITY: 
AUSTRALIA.  SENATE SELECT COMMITTEE 
      ON SUPERANNUATION AND FINANCIAL 
 
      SERVICES 

By Jim Dickens

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