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Superannuation |
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Who must hold an RSE (Registerable Superannuation Entity) Licence?All trustees of superannuation entities (including public offer superannuation funds, approved deposit funds, eligible rollover funds and pooled superannuation trusts). The only exclusions available from licensing are for self-managed superannuation funds regulated by the Australian Taxation Office, and public sector superannuation schemes. What is the process for applying for a RSE Licence?1. A Statement of Intention to apply for an RSE Licence should be lodged with APRA prior to lodgement of the RSE Application. 2. Applications for an RSE Licence can be obtained off the APRA website for completion and lodgement by applicants (in hard copy) with APRA, together with supporting documentation. Applications for an RSE licence cannot be made electronically. 3. Application for registration of the superannuation fund(s) must also be lodged (in draft form at the time of the RSE Application, and then in final form once the RSE Licence has been granted). What can Block Legal & Compliance do for Superannuation Trustees?1. advise you regarding APRA requirements; 2. project manage or review your RSE and/or Fund Registration Application(s); 3. draft policies and procedures (including comprehensive Compliance Manual) and/or application proofs (Statements of Compliance); 4. liaise with APRA to finalise your RSE application; 5. provide training and workshops to staff and Boards regarding the process and applicable legal/regulatory requirements; 6. provide specialised assistance in key areas such as drafting of Risk Management Strategy and Plans; 7. review and advice regarding marketing materials and website disclosure; and 8. provide implementation advice and guidance once RSE Licence is obtained; and 9. provide ongoing compliance oversight and reviews, and training, once RSE Licence has been granted.
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