APRA imposes conditions on Mercer Super due to risk management and compliance deficiencies.
APRA imposes additional licence conditions on Mercer Super due to risk management and compliance management deficiencies. Mercer Super, with $70bn under management and 850,000 members, admitted significant breaches of prudential standards SPS 220, SPS 231, and SPS 232. APRA requires Mercer Super to develop a remediation plan with an independent expert and appoint an independent third party for an operational effectiveness review.
May 28, 2024
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