Federal Register of Legislation - Australian Government

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Determinations/Financial (Other) as made
This instrument determines Reporting Standard SRS 605.0 RSE Structure.
Administered by: Treasury
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 06
Registered 17 Sep 2021
Tabling HistoryDate
Tabled HR18-Oct-2021
Tabled Senate18-Oct-2021

 

Financial Sector (Collection of Data) (reporting standard) determination No. 17 of 2021

Reporting Standard SRS 605.0 RSE Structure

Financial Sector (Collection of Data) Act 2001

 

I, Alison Bliss, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) DETERMINE Reporting Standard SRS 605.0 RSE Structure, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of the reporting standard.

 

Under section 15 of the Act, I DECLARE that the reporting standard shall begin to apply to those financial sector entities on and after the day it is registered on the Federal Register of Legislation.

 

This instrument commences upon registration on the Federal Register of Legislation.

 

Dated: 15 September 2021

 

[Signed]

 

Alison Bliss

General Manager

Data Analytics and Insights Division

 

 

 

Interpretation

In this Determination:

APRA means the Australian Prudential Regulation Authority.

financial sector entity has the meaning given by section 5 of the Act.

 

Schedule

 

Reporting Standard SRS 605.0 RSE Structure comprises the document commencing on the following page.

 

 


 

 

 

Reporting Standard SRS 605.0

RSE Structure

Objective of this reporting standard
This Reporting Standard sets out requirements for the provision of information to APRA relating to the structure of a registrable superannuation entity (RSE), defined benefit RSE, Pooled Superannuation Trust (PST) or eligible rollover fund (ERF).

It includes Reporting Form SRF 605.0 RSE Structure (SRF 605.0) and associated specific instructions.

Authority

1.             This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.

Purpose

2.             Information collected under this Reporting Standard is used by APRA for the purposes of prudential supervision and publication. It may also be used by the Australian Securities and Investments Commission.

Application

3.             This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) in respect of each RSE, defined benefit RSE, pooled superannuation trust (PST) and eligible rollover fund (ERF) within its business operations[1].

Commencement

4.             This Reporting Standard applies to reporting periods ending on or after 30 June 2021.

Reporting periods

5.             Reporting periods under this Reporting Standard are each year ending 30 June.

Information required

6.             An RSE licensee must provide APRA with the information required by this Reporting Standard for reporting periods ending on or after 30 June 2021.

7.             An RSE licensee to which this Reporting Standard applies must provide information required under paragraph 6 for the reporting period ending on 30 June 2021, by 30 September 2021.

8.             An RSE licensee to which this Reporting Standard applies must provide information required under paragraph 6 for reporting periods ending on or after 30 June 2022, within 28 days after the end of the relevant reporting period.

Ad-hoc information required

9.             Where an RSE licensee makes a change to information relating to superannuation products, investment menus, investment options or fee and cost arrangements in respect of an RSE, defined benefit RSE, PST or ERF, and this results in information reported under this Reporting Standard no longer being accurate, the RSE licensee must provide updated information required by this Reporting Standard  as at the date of the change, by the later date of within 28 calendar days of the change or the due date in paragraph 7.

Quarterly attestation required

10.         An RSE licensee must provide APRA an attestation that the information it last provided APRA under this Reporting Standard is still accurate as at the end of every calendar quarter (i.e. the periods ending 30 September, 31 December, 31 March and 30 June each year) or that the RSE Licensee has, or will be, providing updated information to APRA in accordance with paragraph 9.

11.         An RSE licensee to which this Reporting Standard applies must provide information required under paragraph 10, within 28 days after the end of each calendar quarter.

Notices

12.         If, having regard to the particular circumstances of an RSE, defined benefit RSE, PST or ERF, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by paragraph 5, APRA may, by notice in writing, change the reporting periods for the particular RSE, defined benefit RSE, PST or ERF.

13.         Where APRA has changed the reporting periods under paragraph 12, the RSE licensee must provide the relevant information within the time specified by the notice in writing.

14.         APRA may grant, in writing, an RSE licensee an extension of a due date with respect to one or more RSEs, defined benefit RSEs, PSTs or ERFs within its business operations, in which case the new due date for the provision of the information will be the due date on the specified notice of extension.

Note: For the avoidance of doubt, if the due date falls on a day other than a usual business day, an RSE licensee is nonetheless required to submit the information required no later than the due date.

Form and method of submission

15.         The information required by this Reporting Standard must be given to APRA in electronic format using an electronic method available on APRA’s website or by a method notified by APRA prior to submission.

Quality control

16.         The information provided by an RSE licensee under this Reporting Standard must be the product of systems, procedures and internal controls that have been reviewed and tested by the RSE auditor of the RSE, defined benefit RSE, PST or ERF to which the information relates[2]. This will require the RSE auditor to review and test the RSE licensee’s systems, procedures and internal controls designed to enable the RSE licensee to report reliable information to APRA. This review and testing must be done on:

(a)           an annual basis or more frequently if necessary to enable the RSE auditor to form an opinion on the reliability and accuracy of information; and

(a)           at least a limited assurance engagement consistent with professional standards and guidance notes issued by the Auditing and Assurance Standards Board as may be amended from time to time, to the extent that they are not inconsistent with the requirements of Prudential Standard SPS 310 Audit and Related Matters (SPS 310).

17.         All information provided by an RSE licensee under this Reporting Standard must be subject to systems, processes and controls developed by the RSE licensee for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the RSE licensee to ensure that an appropriate set of policies, procedures and controls for the authorisation of information submitted to APRA is in place.

Authorisation

18.         When an officer or agent of an RSE licensee provides the information required by this Reporting Standard using an electronic format, the officer or agent must digitally sign the relevant information using a digital certificate acceptable to APRA.

19.         If the information required by this Reporting Standard is provided by an agent who submits the information on the RSE licensee’s behalf, the RSE licensee must:

(a)           obtain from the agent a copy of the completed form with the information provided to APRA; and

(b)          retain the completed copy.

20.         An officer or agent of an RSE licensee who submits the information under this Reporting Standard for, or on behalf of, the RSE licensee must be authorised by either:

(a)           the Chief Executive Officer of the RSE licensee; or

(b)          the Chief Financial Officer of the RSE licensee.

Minor alterations to forms and instructions

21.         APRA may make minor variations to:

(a)           a form that is part of this Reporting Standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or

(b)          the instructions to a form, to clarify their application to the form,

without changing any substantive requirement in the form or instructions.

22.         If APRA makes such a variation, it must notify each RSE licensee that is required to report under this Reporting Standard.

Interpretation

23.         In this Reporting Standard:

APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998.

Chief Executive Officer means the chief executive officer of the RSE licensee, by whatever name called, and whether or not he or she is a member of the Board of the RSE licensee[3].

Chief Financial Officer means the chief financial officer of the RSE licensee, by whatever name called.

defined benefit RSE has the meaning of defined benefit fund in subsection 10(1) of the SIS Act.

due date means the relevant due date under paragraphs 7, 8, 9, 11 or, if applicable, paragraph 14 of this Reporting Standard.

eligible rollover fund (ERF) has the meaning given in subsection 10(1) of the SIS Act.

pooled superannuation trust (PST) has the meaning given in subsection 10(1) of the SIS Act.

reporting period means a period mentioned in paragraph 5 or, if applicable, paragraph 12 of this Reporting Standard.

RSE means a registrable superannuation entity as defined in subsection 10(1) of the SIS Act that is not a defined benefit RSE, pooled superannuation trust, ERF, small APRA fund or single member approved deposit fund[4].

RSE auditor means an auditor appointed by the RSE licensee to perform functions under this Reporting Standard.

RSE licensee has the meaning given in subsection 10(1) of the SIS Act.

SIS Act means Superannuation Industry (Supervision) Act 1993.

24.         In this Reporting Standard, unless the contrary intention appears, a reference to an Act, Regulation, Prudential Standard, Reporting Standard, Australian Accounting Standard or Auditing Standard is a reference to the instrument as in force or existing from time to time.

25.         Where this Reporting Standard provides for APRA to exercise a power or discretion, this power or discretion is to be exercised in writing.

 


Reporting Form SRF 605.0

RSE Structure

Instruction Guide

This instruction guide is designed to assist in the completion of Reporting Form SRF 605.0 RSE Structure (SRF 605.0). This form collects information on the structure of each RSE’s business operations.

General directions and notes

Reporting level

SRF 605.0 must be completed for each RSE licensee in respect of each registrable superannuation entity (RSE), defined benefit RSE, pooled superannuation trust (PST) and eligible rollover fund (ERF), as relevant, within its business operations.

Reporting tables

Tables described in this reporting form list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.

The Unique identifier column indicates which field or fields form the primary key of the table. Where a field has ‘Y’ in the Unique identifier column, this denotes that this field forms part of the primary key for the table. A blank cell in the Unique identifier column means that the field does not form part of the primary key for the table. Any specific combination of values in the fields that form the primary key of a table must not appear on more than one row in that table when reported.

Reporting basis and units of measurement

Amounts in SRF 605.0 are to be reported as percentages or whole numbers. Percentages are to be reported as an unconverted number to two decimal places. For example, 12.34 per cent is to be reported as 0.1234.

Items on SRF 605.0 must be reported as at the end of the reporting period, or, if an RSE licensee is submitting ad-hoc information, as at the date of the change.

Definitions

Terms highlighted in bold italics indicate that the definition is provided in Reporting Standard SRS 101.0 Definitions for Superannuation Data Collections (SRS 101.0).

Specific instructions

Table 1: Superannuation products

Report each superannuation product that had members or was accepting members at any time during the reporting period.

 

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Superannuation Product Status Type

 

All filers

·         New

·         No Change

·         Update

Report the status of the superannuation product record.

 

Report ‘New’ if this is a new superannuation product being reported for the first time.

 

Report ‘No Change’ if there has been no change to the superannuation product since it was last reported.

 

Report ‘Update’ if there has been a change to the superannuation product since it was last reported.

2

Superannuation Product Identifier

Y

All filers

No more than 20 alpha-numeric characters (with no special characters)

Report the superannuation product identifier.

3

Superannuation Product Name Text

 

All filers

Free text

Report the name of the superannuation product.

4

Superannuation Product Description Text

 

All filers

Free text

Report a description of the superannuation product.

5

Superannuation Product Type

 

All filers

·         MySuper Product

·         Choice Product

·         Defined Benefit Product

Report the superannuation product type.

6

Superannuation Product Category Type

 

All filers

·         Generic

·         Insurance Only

·         MySuper Material Goodwill

·         MySuper Large Employer

Report the superannuation product category.

7

MySuper Authorisation Identifier

 

All filers

 14 numeric digits

Report the MySuper authorisation identifier.  If the superannuation product does not have a MySuper authorisation identifier, leave this field blank.

8

Superannuation Product Phase Type

 

All filers

·         Accumulation

·         Transition To Retirement

·         Retirement

·         Defined Benefit Accumulation And Retirement

Report the superannuation product phase.

9

Superannuation Product Access Type

 

All filers

·         Individual No Advisor Required

·         Individual Advisor Only

·         Standardised Employer

·         Tailored Employer

·         Combined Access Type

Report the superannuation product access type.

10

Open To New Employers Superannuation Product Indicator

 

All filers

·         Yes

·         No

Report whether the superannuation product is open to new employers.

11

Open To New Members Superannuation Product Indicator

 

All filers

·         Yes

·         No

Report whether the superannuation product is open to new members.

12

Open To Public Superannuation Product Indicator

 

All filers

·         Yes

·         No

Report whether the superannuation product is open to the public.

13

Product Disclosure Statement URL

 

All filers

URL

Report the URL path to the current Product Disclosure Statement file for the superannuation product. If no such URL exists, this field may be left blank.

14

Product Disclosure Statement Updated Date

 

All filers

Date values (dd/mm/yyyy)

Report when the most recent Product Disclosure Statement for the superannuation product was dated as per section 1013G of the Corporations Act 2001.

15

Product Dashboard URL

 

All filers

URL

Report the URL path of the product dashboard. If the superannuation product is not required to have a dashboard, this field may be left blank.

16

Product Dashboard Updated Date

 

All RSE licensees

Date values (dd/mm/yyyy)

Where the URL path of the product dashboard has been supplied, report the effective date that the product dashboard was last updated, otherwise leave this field blank.

17

Minimum Balance Superannuation Product Amount

 

All filers

Dollar values

Report the minimum balance of the superannuation product. Where there is no minimum, leave this field blank.

18

Superannuation Product Inception Date

 

All filers

Date values (dd/mm/yyyy)

Report the superannuation product inception date.

19

Superannuation Product End Date

 

All filers

Date values (dd/mm/yyyy)

Report the superannuation product end date. If the superannuation product has no end date, leave this field blank.

 

Table 2: Investment menus

Report each investment menu that members invested through or had the option to invest through at any time during the reporting period.

 

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Investment Menu Status Type

 

All filers

·         New

·         No Change

·         Update

Report the status for the investment menu record.

 

Report ‘New’ if this is a new investment menu being reported for the first time.

 

Report ‘No Change’ if there has been no change to the investment menu since it was last reported.

 

Report ‘Update’ if there has been a change to the investment menu since it was last reported.

2

Investment Menu Identifier

Y

All filers

No more than 20 alpha-numeric characters (with no special characters)

Report the investment menu identifier.

3

Investment Menu Name Text

 

All filers

Free text

Report the name of the investment menu.

4

Investment Menu Description Text

 

All filers

Free text

Provide a description of the investment menu.

5

Investment Menu Type

 

All filers

·         Generic

·         Platform

·         Lifecycle Option

Report the investment menu type.

6

Lifecyle Trigger Age Indicator

 

All filers

·         Yes

·         No

Report whether a change in the lifecycle stage is dependent on the age of the member. For non-lifecycle option investment menu types, report ‘No’.

7

Lifecyle Trigger Balance Indicator

 

All filers

·         Yes

·         No

Report whether a change in the lifecycle stage is dependent on the members’ balance. For non-lifecycle option investment menu types, report ‘No’.

8

Lifecyle Trigger Contribution Rate Indicator

 

All filers

·         Yes

·         No

Report whether a change in the lifecycle stage is dependent on the members’ contribution rate. For non-lifecycle option investment menu types, report ‘No’.

9

Lifecyle Trigger Salary Indicator

 

All filers

·         Yes

·         No

Report whether a change in the lifecycle stage is dependent on the members’ salary. For non-lifecycle option investment menu types, report ‘No’.

10

Lifecyle Trigger Gender Indicator

 

All filers

·         Yes

·         No

Report whether a change in the lifecycle stage is dependent on the members’ gender. For non-lifecycle option investment menu types, report ‘No’.

11

Lifecyle Trigger Time Until Retirement Indicator

 

All filers

·         Yes

·         No

Report whether a change in the lifecycle stage is dependent on the time until retirement of the member. For non-lifecycle option investment menu types, report ‘No’.

12

Open To New Members Investment Menu Indicator

 

All filers

·         Yes

·         No

Report whether the investment menu is open to new members.

13

Minimum Balance Investment Menu Amount

 

All filers

Dollar values

Report the minimum balance. Where there is no minimum, leave this field blank.

14

Investment Cap Investment Menu Percent

 

All filers

Percentage to 2 decimal places

Report the investment cap as a percentage of individual member balance. Where there is no cap, leave this field blank.

15

Investment Menu Inception Date

 

All filers

Date values (dd/mm/yyyy)

Report the inception date of the investment menu.

16

Investment Menu End Date

 

All filers

Date values (dd/mm/yyyy)

Report the end date of the investment menu. If the investment menu has no end date, leave this field blank.

 

Table 3: Investment options

Unless aggregation is permitted as described below, report each investment option that members invested in or had the option to invest in at any time during the reporting period. Report each group of investment options that have been aggregated that members invested in or had the option to invest in at any time during the reporting period.

 

For the 30 June 2021 reporting period, for each investment menu reported with Investment Menu Type of ‘Lifecycle option’, RSE licensees must report all investment options the investment menu provided a pathway to from 30 June 2014 up to and including 30 June 2021, regardless of whether the investment options have an investment option end date prior to 30 June 2021.

 

The investment option categories that may be aggregated are:

·         Direct Shares;

·         Direct Term Deposit; and

·         Direct Fixed Income Instrument.

 

Where an investment option category has been listed as being permitted to be aggregated, the RSE licensee can either:

 

·         Report each investment option within that investment option category on a separate line; or

·         Aggregate the investment options within that investment option category subject to the following conditions:

o   Only investment options with the same investment option type and investment option category may be aggregated;

o   The investment option name and description should reflect the fact that aggregation has taken place;

o   The number of investments included column must be completed, indicating the number of investment options that have been aggregated;

o   APIR Code should be left blank;

o   Ticker Symbol Text should be left blank;

o   Investment Option Inception Date should be the earliest of the inception dates of the investment options being aggregated;

o   Only investment options with the same combination of:

§  Exchange Code Text;

§  Able To Freeze For Redemptions Investment Option Indicator;

§  Frozen For Redemptions Investment Option Indicator; and

§  Open To New Members Investment Option Indicator,

can be aggregated.

o   For columns:

§  Minimum Balance Investment Option Amount;

§  Investment Cap Investment Option Percent; and

§  Minimum Purchase Transaction Investment Option Amount,

the lowest non blank value of this column from the aggregated investment options should be reported. Should all aggregated investment options have an blank value, then that column may be left blank for the aggregation.

o   End date should only be reported once all of the investment options within the aggregation have ended. It should be set to the latest end date from the investment options aggregated.

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Investment Option Status Type

 

All filers

·         New

·         No Change

·         Update

Report the status for the investment option record.

 

Report ‘New’ if this is a new investment option being reported for the first time.

 

Report ‘No Change’ if there has been no change to the investment option since it was last reported.

 

Report ‘Update’ if there has been a change to the investment option since it was last reported.

2

Investment Option Identifier

Y

All filers

No more than 20 alpha-numeric characters (with no special characters)

Report the investment option identifier.

3

Investment Option Name Text

 

All filers

Free text

Report the name of the investment option.

4

Investment Option Description Text

 

All filers

Free text

Provide a description of the investment option.

5

Trustee Directed Product Indicator

 

All filers

·         Yes

·         No

Report whether the the investment option is a trustee directed product.

6

Investment Option Type

 

All filers

·         Single Manager

·         Multi Manager

·         Direct

Report the investment option type.

7

Investment Option Category Type

 

All filers

·         Single Sector

·         Multi Sector

·         Direct Cash Account

·         Direct Term Deposit

·         Direct Fixed Income Instrument

·         Direct Shares

·         Direct Listed Investment Company

·         Direct Exchange Traded Product

·         Direct Hybrid Security

·         Annuity

·         Other

Report the investment option category.

8

Investment Option Included Count

 

All filers

Whole number

Where two or more investments have been aggregated for the purpose of reporting for this form, report the number of distinct investments included that would otherwise have satisfied the definition of investment option. Otherwise, leave this field blank.

9

APIR Code

 

All filers

String of 9 alpha numeric characters

Where applicable, report the APIR code. Otherwise leave this field blank.

10

Exchange Code Text

 

All filers

Free text

Where applicable, report the exchange code. Otherwise leave this field blank.

11

Ticker Symbol Text

 

All filers

Free text

Where applicable, report the ticker symbol of the investment option. Otherwise, leave this field blank.

12

Able To Freeze For Redemptions Investment Option Indicator

 

All filers

·         Yes

·         No

Report whether the investment option is able to be frozen for redemptions.

13

Frozen For Redemptions Investment Option Indicator

 

All filers

·         Yes

·         No

Report whether the investment option is frozen for redemptions.

14

Open To New Members Investment Option Indicator

 

All filers

·         Yes

·         No

Report whether the investment option is open to new members.

15

Not Open To New Members Investment Option Reason Type

 

All filers

·         Failed Performance Test

·         Legacy Product

·         Other

·         Not Applicable

Report an explanation for any investment option that is no longer open to new members.

16

Minimum Balance Investment Option Amount

 

All filers

Whole dollars

Report the minimum balance allowable within the investment option. Where there is no minimum, leave this field blank.

17

Investment Cap Investment Option Percent

 

All filers

Percentage to 2 decimal places

Report the investment cap applicable to the investment option as a percentage. Where there is no cap, leave this field blank.

18

Minimum Purchase Transaction Investment Option Amount

 

All filers

Whole dollars

Report the minimum purchase transaction of the investment option. Where there is no minimum, leave this field blank.

19

Investment Option Inception Date

 

All filers

Date values (dd/mm/yyyy)

Report the inception date of the investment option.

20

Investment Option End Date

 

All filers

Date values (dd/mm/yyyy)

Report the end date of the investment option where applicable. If the investment option has no end date, leave this field blank.

 

Table 4: Fees and costs arrangements

Table 4 collects information on the specific fees and costs offered to members under fees and costs arrangements. Standard fees and costs arrangements refer to fees and costs available to members who do not qualify for alternative fees and costs arrangements that may have been negotiated with the RSE licensee.

Report each fees and costs arrangement that was in use at any stage in the reporting period. Each fees and costs arrangement must be identified by a unique fees and costs arrangement identifier in Table 4.

Column

Field name

Unique identifier

Applicable to

Valid values

Description

1

Fees And Costs Arrangement Status Type

 

All filers

·         New

·         No Change

·         Update

Report the status for the fees and costs arrangement record.

Report ‘New’ if this is a new fees and costs arrangement being reported for the first time.

Report ‘No Change’ if there has been no change to the fees and costs arrangement (columns 2-7) since it was last reported.

Report ‘Update’ if there has been a change to the fees and costs arrangement (columns 2-7) since it was last reported.

2

Fees And Costs Arrangement Identifier

Y

All filers

No more than 20 alpha-numeric characters (with no special characters)

Report the fees and costs arrangement identifier for the fees and costs arrangement.

3

Fees And Costs Arrangement Type

 

All filers

·         Standard

·         Custom

Report the fees and costs arrangement type for the fees and costs arrangement.

4

ASIC Regulatory Guide 97 Disclosure Version Type

 

All filers

·         2017

·         2020

·         Not Applicable

Report the RG 97 version used to disclose the fees and costs relating to the fees and costs arrangement.

5

ASIC Regulatory Guide 97 Performance Version Type

 

All filers

·         2017

·         2020

·         Not Applicable

Report the RG 97 version used to calculate performance relating to the fees and costs arrangement.

6

Eligible Members Description Text

 

All filers

Free text

Report the eligible members for the fees and costs arrangement.

7

Custom Features Description Text

 

All filers

Free text

Report the custom features that relate to the fees and costs arrangement.

For fees and costs arrangements with a fees and costs arrangement type of ‘Standard’, this field should be left blank.

8

Employer Sponsors Fees And Costs Arrangement Count

 

All filers

Whole numbers

Report the number of employer sponsors that the fees and costs arrangement applies to.

9

Member Accounts Fees And Costs Arrangement Count

 

All filers

Whole numbers

Report the number of member accounts that the fees and costs arrangement applies to.

10

Members Benefits Fees And Costs Arrangement Amount

 

All filers

Whole dollars

Report the sum of members’ benefits of the member accounts that the fees and costs arrangement applies to.

11

Fees And Costs Arrangement Inception Date

 

All filers

Date values (dd/mm/yyyy)

Report the inception date of the fees and costs arrangement.

12

Fees And Costs Arrangement End Date

 

All filers

Date values (dd/mm/yyyy)

Report the end date of the fees and costs arrangement where applicable. If the fees and costs arrangement has no end date, leave this field blank.

 



[1] For the purposes of this Reporting Standard, an RSE licensee’s ‘business operations’ includes all activities it conducts as an RSE licensee (including the activities of each RSE of which it is the licensee), and all other activities of the RSE licensee to the extent that they are relevant to, or may impact on, its activities as an RSE licensee. For the avoidance of doubt, if the RSE licensee is trustee of more than one RSE, defined benefit RSE, PST or ERF, the RSE licensee must separately provide the information required by this Reporting Standard for each RSE, defined benefit RSE or ERF within its business operations. An RSE licensee that does not have any RSEs, defined benefit RSEs or ERFs within its business operations is not required to provide information under this Reporting Standard.

[2] Refer also to Prudential Standard SPS 310 Audit and Related Matters (SPS 310).

[3] Refer to Prudential Standard SPS 510 Governance.

[4] For the purposes of this Reporting Standard, ‘pooled superannuation trust’ has the meaning given in subsection 10(1) of the SIS Act, ‘small APRA fund’ means a superannuation entity that is a regulated superannuation fund, within the meaning of the SIS Act, which has fewer than five members and ‘single member approved deposit fund’ means a superannuation entity that is an approved deposit fund, within the meaning of the SIS Act, which has only one member.