SYDNEY, May 29 -- Australian Prudential Regulation Authority issued the following media release:
The Australian Prudential Regulation Authority (APRA) has imposed additional licence conditions on HTFS Nominees Pty Limited (HTFS) to address prudential concerns relating to its investment governance and member outcome frameworks and practices, including oversight of platform investment options made available to super fund members.
HTFS acts as trustee for HUB24 Super Fund which has approximately 165,000 member accounts and over $55 billion in funds under management.
The imposition of additional licence conditions follows APRA's thematic review of the investment governance, strategic planning and member outcomes practices of superannuation t...