PFS Consulting Supports RBNZ with THE Strategic Review of Interim Solvency Standards (ISS)
Media release PFS Consulting assists the Reserve Bank of New Zealand (RBNZ) to strengthen their Prudential Framework with our review of their ISS. PFS Consulting is pleased to have assisted the RBNZ with an external review of the Interim Solvency Standards (ISS) as described in their recent consultation package. This important work helps to ensure […]
APRA’s priorities for 2023
APRA recently released its Policy Priorities and Supervision Priorities for 2023. Read the PFS Risk Consulting team’s essential guide to what your financial institution needs to know: Download Presentation
Ian Laughlin appointed as a Principal of PFS Consulting
Ian is a former Australian Prudential Regulation Authority (APRA) Deputy Chair, and has had more than 40 years’ experience in the finance and insurance industry. He has held a range of senior executive and board positions in Australia, the United Kingdom and Hong Kong. Most recently, he was the chair of ANZ-owned OnePath Life Insurance […]
Submission to APRA Prudential Standard CPS 511 – Remuneration
PFS Consulting is pleased to provide this submission in relation to the draft Prudential Standard CPS 511 – Remuneration (“CPS 511”). PFS Consulting is an independent consultancy established in 2001. We provide remuneration, governance, and risk consulting services to a wide range of clients. These include APRA regulated entities including superannuation funds, life and general […]
What are the practical and hidden implications of the new APRA remuneration standard CPS 511?
The proposed APRA executive remuneration standard, CPS 511, aims to ensure that remuneration arrangements in the financial services effectively manage both financial and non-financial risks. The key requirements of the draft standard are as follows: The Board of an APRA-regulated entity is responsible for the remuneration framework and its effective application. An entity must have […]
Staying ahead of the wave: will the recommendations from the Royal Commission cause a tsunami of changes for executive remuneration?
Tucked neatly in the Royal Commission report, starting on page 347, is a little section that focuses on Executive Remuneration. This section has received little media attention; however the recommendations could instigate significant changes that are likely to flow to all Australian companies. This article highlights the key issues for Boards, particularly Remuneration Committees, and […]
A five-minute summary of the Hayne Royal Commission findings
By now you have probably begun analysing the findings of the Hayne Royal Commission – however if you need a top line catch up, here’s our summary, with some of our own thoughts added. High lights (or Low lights) Overall, the Commissioner laid the blame for the various acts of misconduct at the feet of […]
Insurance and the Royal Commission
Insurance was the last sector to come under scrutiny by the Royal Commission. Ineffective regulation, aggressive sales tactics and difficult claims processes were just some of the issues uncovered. Coupled with the proposed Protecting Your Super Package Bill 2018, these findings will have far-reaching consequences for insurance within superannuation. What do the findings of the Royal […]
