Australia’s financial regulator, the Australian Prudential Regulation Authority (Apra), has proposed to increase the volume of data it collects from superannuation funds.
The discussion paper calls for “enhanced data collection” in areas such as investment valuation, liquidity management and trustee board governance.
This is the second phase of an ongoing data transformation initiative that began in 2019 to increase transparency in the superfund sector.
“Deeper and richer data from trustees will significantly enhance Apra’s ability to improve industry transparency, governance and practices, and ultimately lead to better outcomes for members,” said Apra deputy chair Margaret Cole.
“In developing these proposals, Apra has sought to minimise the regulatory burden on the industry by requesting data that trustees already hold. We have also worked closely with peer agencies with the goal of ‘collect once and share’ where feasible.”
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