Ross Jones

Policy and Regulation

Charter group for super custodians

The charter group for the Labor government’s proposed council of superannuation custodians has begun public and private consultation with the superannuation industry, with Jeremy Cooper at the helm as chair. Cooper said the primary task for the group, appointed in May by Minister Bill Shorten, is to deliver a coherent report on the role of […]
Unintentional

Ross Jones reflects on stronger super

Ross Jones believes the world of superannuation is in a good place. “We’ve gone from what was sometimes described by people as well-meaning amateurs to a sophisticated and professional industry in the space of a decade. And that’s something the industry can be proud of,” he says. It is in such a good place that […]
Policy and Regulation

Who will replace Ross Jones?

The date July 1, 2013 is a significant one for the superannuation industry in Australia for a couple of reasons. While it marks the commencement of Stronger Super, it also sees the departure of the man who has overseen its inception. About a week and a half ago, it was announced by the deputy prime […]
Policy and Regulation

Stronger Super reporting phased in from 2014

New statistical data collections that form part of new Stronger Super requirements will now be phased in from 2014, says Australian Prudential Regulation Authority deputy chair Ross Jones. The exception will be superannuation funds with MySuper authorisation. “The reporting framework is still not completely finalised. There’s still work to be done, for example, on the […]
Governance

How to trust a trustee

Magazine editors from time immemorial have used the simple device of listing 10 things – 10 ways to lose weight, to pay off mortgages, achieve better orgasms, discover the best ciders, harness the real you, and so on – simply to keep readers from dozing off and tuning out. Whether there’s any science to it, […]
CMSF

Reforms not about industry consolidation

The Stronger Super reforms aren’t aimed at pushing out smaller funds, says Ross Jones, deputy chairman of the Australian Prudential Regulation Authority (APRA). Speaking on a panel with the commissioner of the Australian Securities and Investments Commission (ASIC), Greg Tanzer, Jones responded to concerns about the impact of reform on smaller funds. “The issue with scale […]
Policy and Regulation

Engage with regulator says APRA’s Jones

Trustees should be spearheading changes to the superannuation industry’s standards, according to Ross Jones, deputy chairman of the Australian Prudential Regulation Authority (APRA), who advises trustees to engage and consult with the regulator. “My recommendation is that trustees keep actively involved in this, that trustees don’t just outsource a lot of the decision-making processes,” he […]
Unintentional

Q&A with APRA’s Ross Jones

Ross Jones says he often makes the point that the Australian Prudential Regulatory Authority (APRA) has more power over a small credit union than it does over a multibillion-dollar superannuation fund. That is all changing, however, with the passage in the Senate of legislation giving APRA the responsibility to set standards for the super industry, as it does for insurance […]
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