Financial services are facing an unprecedented set of pressures from increasing cyber threats, disruption, competitive pressure from new entrants, consumer and shareholder activism and regulatory oversight.
APRA acknowledges that cyber-attacks will continue to be an issue and is forcing those it regulates to be proactive in this area.
Calls for consolidation of the number of funds in the superannuation sector have intensified with APRA and industry commentators putting underperforming funds on notice.
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