Towards the end of February, APRA and ASIC continued to be active. In particular, both regulators released various consultation papers, draft guidance and FAQs for industry.

Notably, APRA released a discussion paper on increasing superannuation data transparency and a note to APRA-regulated entities on managing compliance risk. ASIC also remade class order relief permitting insurers to provide insurance quotes over the phone without the need for a PDS as well as releasing a consultation paper on updated class order relief relating to superannuation and financial services guides.

More information on these developments, as well as other industry news can be found here.