Australian Regulator Imposes Additional Licence Conditions on HTFS Nominees

Prudential watchdog slaps new licence conditions on Hub24 trustee

This is the fifth platform trustee that the Australian Prudential Regulation Authority has taken enforcement action against.

Australian regulator imposes additional licence conditions on HTFS Nominees

The Australian Prudential Regulation Authority (APRA) has imposed additional licence conditions on HTFS Nominees Pty Limited. The post Australian regulator imposes additional licence conditions on HTFS Nominees appeared first on FX News Group.

APRA slaps additional licence conditions on HTFS Nominees

APRA hit Equity Trustees' subsidiary and the trustee for the HUB24 Super Fund, HTFS Nominees, with additional licence conditions. The new licence conditions centre on HTFS Nominees' weak, ill-defined and inconsistent investment option selection criteria. APRA said there is inadequate due diligence conduct on new investment options, including poor documentation and conflict management, as well as ineffective monitoring and reporting frameworks ar…