APRA Finally Talks Tough – Maybe

In big black letters on the back page of today’s AFR, Tony Boyd declares:

APRA targeting slack super trustees

But are they really?  According to Boyd:

Long-standing observers of the regulation of superannuation could be forgiven for being slightly cynical about Helen Rowell’s speech on Wednesday putting trustees of poor-performing super funds on notice.

Strong talk from APRA.  Maybe or maybe not, because in a separate story in of all places the ABC, it appears that:

The Australian Prudential Regulatory Authority (APRA) is spending almost half a million dollars on ‘presentation skills training’ with the institute.

The institute being the National Institute of Dramatic Art, also known as NIDA.  Yep.  $430,000 smackers of funds that might otherwise be used for, you know, regulation, was spend on presentation skill training.

NIDA boasts amongst its alumni people like Cate Blanchett, Mel Gibson, Hugo Weaving Judy Davis, Catherine Martin and Baz Luhrmann.  Not too many regulators sprinkled through that list.

So is APRA really talking tough or are they doing what they are being trained to do by the National Institute of Dramatic Art?

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6 Responses to APRA Finally Talks Tough – Maybe

  1. stackja

    APRA just acting tough?

  2. John Stankevicius

    I know of a GP who had a hobby in acting in thearical plays. Because he was confident in speaking to large numbers of people and his diction was clear, Pharmacutical companies hired hjim to pitch to GP at conferences their products.

    Worked a treat and he retired really early in life from being a GP.

    May even live in a salubrious suburb in Sydney.

  3. a happy little debunker

    I always have to do a doubletake whenever someone mentions APRA.

    Get all your licences here!

  4. John A

    1. Define “poor-performing”.
    2. NIDA graduates are in fact, consummate pretenders.

  5. Philby

    Perhaps its time to close the SMSF and hide it under the mattress. If Bull Shitten gets up there will be no place to hide .

  6. Philby:

    Perhaps its time to close the SMSF and hide it under the mattress. If Bull Shitten gets up there will be no place to hide .

    Done.

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