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ARTICLE · 15 MAY 2020

Financial Services Monthly Wrap Up: April 2020

Norton Rose Fulbright Australia
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APRA and ASIC have issued various letters of information and advice to assist entities during the COVID-19 pandemic.

AustraliaFinance and Banking
Jon Ireland
Jon Ireland
Ray Giblett
Ray Giblett
Matthew Farnsworth
Matthew Farnsworth
Stephen Putnins
Stephen Putnins
Anjelica Balis
Anjelica Balis
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ASIC and APRA release joint letter to RSE licensees on COVID-19

On 1 April 2020, APRA's Deputy Chair Helen Rowell and ASIC's Commissioner Danielle Press issued a joint letter to superannuation trustees on the impact of COVID-19. The joint letter to RSE licensees reminds trustees of their obligations during the COVID-19 pandemic, including to:

  • make new business arrangements;
  • amend priorities;
  • adjust their short-term investment strategies;
  • maintain sufficient levels of liquidity in order to sustain the operation of their funds; and
  • comply with their usual responsibilities including their duty to comply with the law and duty to act in the best interests of their members.

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