Part SRF 520.0 and these instructions togethe - Financial Sector (Collection of Data) (reporting standard) determination No. 7 of 2014 - SRS 520.0 - Responsible Persons Information - SRF 520.0 and these instructions together comprise the form, and prescribe the procedures, for the purposes of paragraph 48 of SPS 520, for providing the information required by paragraphs 45, 46 and 47 of SPS 520. | Zoe
Financial Sector (Collection of Data) (reporting standard) determination No. 7 of 2014 - SRS 520.0 - Responsible Persons Information
SRF 520.0 and these instructions togetheSRF 520.0 and these instructions together comprise the form, and prescribe the procedures, for the purposes of paragraph 48 of SPS 520, for providing the information required by paragraphs 45, 46 and 47 of SPS 520.
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These instructions assist completion of Reporting Form SRF 520.0 Responsible Persons Information (SRF 520.0). Prudential Standard SPS 520 Fit and Proper (SPS 520) requires an RSE licensee to provide certain information to APRA and to ensure that this information remains correct for all responsible persons. Information reported in SRF 520.0 is required primarily for prudential and publication purposes.
SRF 520.0 and these instructions together comprise the form, and prescribe the procedures, for the purposes of paragraph 48 of SPS 520, for providing the information required by paragraphs 45, 46 and 47 of SPS 520.
Reporting level
SRF 520.0 must be completed for each RSE licensee.
SRF 520.0 must be submitted:
within 28 days of the commencement of SPS 520 (when complying with paragraph 44);
within 14 days of any change or new appointment of a responsible person (when complying with paragraph 45); and
within 14 days of an RSE licensee assessing that a responsible person is not fit and proper (when complying with paragraph 46).
SRF 520.0 does not need to be completed in full when submitting information in the three situations listed above. In each situation, SRF 520.0 must be completed only to the extent necessary to comply with the relevant paragraph of SPS 520.
An RSE licensee may use the annual form to correct and update the information they have provided to APRA for this purpose by resubmitting the form through D2A.
Reporting basis and unit of measurement
Report all items on SRF 520.0 in accordance with the Australian Accounting Standards unless otherwise specified.
Items on SRF 520.0 must be reported as at the end of the reporting period.
Items on SRF 520.0 are to be reported as text, whole numbers and dates as DD/MM/YYYY.
These instructions specify the unit of measurement that applies to each item.
Specific instructions
Terms highlighted in bold italics indicate that the definition is provided in these instructions.
Responsible persons information - Existing directors, executive officers and senior managers
Item 1.1 collects all existing responsible persons that are directors, executive officers or senior managers of the RSE licensee at the time of submission of SRF 520.0, or have ceased to be a responsible person during the reporting period.
Unit of measurement: report dates in item 1.1 column 4 and item 1.1 column 13 as DD/MM/YYYY.
Item 1.1
Report each responsible person as a separate line in item 1.1. If a responsible person is serving as chairperson on the Board, report that responsible person as director (chair) and director on two separate lines in item 1.1.For each responsible person, report:the title in column 1, the given name(s) in column 2, the family name or surname in column 3, the date of birth in column 4 and the former name(s), if any in column 5;the type of responsible person in column 6. If the type of responsible person reported in column 6 is other executive officer, senior manager or other responsible person, report the position title of the responsible person in column 7; otherwise, leave blank;if the type of responsible person reported in column 6 is other executive officer, senior manager or other responsible person, report a brief description of the main responsibilities of the responsible person in column 8; otherwise, leave blank;the employer in column 9. The employer may be the RSE licensee or may be another entity;if the employer is the RSE licensee or is an associate of the RSE licensee report ‘yes’ in column 10, otherwise report ‘no’;the responsible person status in column 11;if the responsible person has been assessed under the fit and proper policy, report ‘yes’ in column 12. If a person holding a responsible person position on an interim basis has not yet been assessed under the fit and proper policy, report ‘interim’ in column 12; otherwise, report ‘no’;if ‘no longer acting as a responsible person’ is reported in column 11, report the date that an individual ceased to hold the responsible person position in column 13. If the individual has not ceased holding the responsible person position, leave column 13 blank; andthe business phone number in column 14 and business email address in column 15.The types of responsible person are a director, director (Chair), executive officer (CEO), executive officer (CFO), other executive officer, senior manager, secretary or other responsible person. For the purposes of this instruction guide, a reference to ‘a director’ is, in the case of a group of individual trustees, an individual trustee. An alternate director must be reported as a director. Do not include responsible persons who are the RSE auditor or RSE actuary in item 1.1.The types of responsible person status are: ‘changed’, ‘unchanged’ or ‘no longer acting as a responsible person’:if all information about an existing responsible person reported in item 1.1 column 1 to column 10 inclusive, column 12, column 14 and column 15 remains unchanged, report the status as ‘unchanged’;if the existing responsible person is no longer a responsible person, report the status as ‘no longer acting as a responsible person’; andif any information about an existing responsible person reported in item 1.1 column 1 to column 10 inclusive, column 12, column 14 and column 15 has changed, report the status as ‘changed’.
Position title
Represents the employment position title of an individual.
Director
Represents a director of an RSE licensee, within the meaning given in s. 10(1) of the SIS Act. A reference to ‘a director’ is, in the case of a group of individual trustees, an individual trustee.
Director (Chair)
Represents a director of an RSE licensee, within the meaning given in s. 10(1) of the SIS Act, who is serving as chairperson of the Board.
Executive officer (CEO)
Represents an executive officer (within the meaning given in s. 10(1) of the SIS Act) who is appointed to undertake the responsibilities of the Chief Executive Officer of the RSE licensee, howsoever named.
Executive officer (CFO)
Represents an executive officer (within the meaning given in s. 10(1) of the SIS Act) who is appointed to undertake the responsibilities of the Chief Financial Officer of the RSE licensee, howsoever named.
Secretary
Represents a person acting as a secretary of the RSE licensee.
Senior manager
Represents a person undertaking the responsibilities of a senior manager within the meaning given in Prudential Standard SPS 520 Fit and Proper.
Assessed under Fit and Proper policy
Represents whether a newly appointed responsible person has been assessed under the entity's fit and proper policy. Reference: Prudential Standard SPS 520 Fit and Proper.
Responsible persons information - New directors, executive officers and senior managers
Item 1.2 collects all new responsible persons that are directors, executive officers or senior managers of the RSE licensee at the time of submission of SRF 520.0.
Unit of measurement: report dates in item 1.2 column 4 and item 1.2 column 12 as DD/MM/YYYY.
Item 1.2
Report each responsible person as a separate line in item 1.2. If a responsible person is serving as chairperson on the Board, report that responsible person as Director (Chair) and director on two separate lines in item 1.2.For each responsible person, report:the title in column 1, the given name(s) in column 2, the family name or surname in column 3, the date of birth in column 4 and the former name(s), if any in column 5;the type of responsible person in column 6. If the type of responsible person reported in column 6 is other executive officer, senior manager or other responsible person, report the position title of the responsible person in column 7; otherwise, leave blank;if the type of responsible person reported in column 6 is other executive officer, senior manager or other responsible person, report a brief description of the main responsibilities of the responsible person in column 8; otherwise, leave blank;the employer in column 9. The employer may be the RSE licensee or may be another entity; andif the employer is the RSE licensee or an associate of the RSE licensee report ‘yes’ in column 10, otherwise report ‘no’;if the responsible person has been assessed under the fit and proper policy, report ‘yes’ in column 11. If a person holding a responsible person position on an interim basis has not yet been assessed under the fit and proper policy, report ‘interim’ in column 11; otherwise, report ‘no’;the date that the individual commenced in the responsible person position in column 12; andthe business phone number in column 13 and business email address in column 14.The types of responsible person are a director, director (Chair), executive officer (CEO), executive officer (CFO), other executive officer, senior manager, secretary or other responsible person. For the purposes of this instruction guide, a reference to ‘a director’ is, in the case of a group of individual trustees, an individual trustee. An alternate director must be reported as a director. Do not include responsible persons who are the RSE auditor or RSE actuary in item 1.2.
Responsible persons information – Existing RSE auditor details
Item 2.1 collects information about the RSE licensee’s current RSE auditor(s) and RSE auditor(s) that ceased during the reporting period.
Unit of measurement: report dates in item 2.1 column 4 and column 11 as DD/MM/YYYY; report item 2.1 column 8 as a whole number.
Item 2.1
Report each RSE auditor appointed by the RSE licensee as a separate line in item 2.For each RSE auditor, report:the title in column 1, the given name(s) in column 2, the family name or surname in column 3, the date of birth in column 4 and former name(s), if any, in column 5;name of the organisation which employs the RSE auditor in column 6;ABN of the organisation which employs the RSE auditor in column 7;number of RSEs within an RSE licensee’s business operations that the RSE auditor is appointed to audit in column 8;the responsible person status in column 9;if the RSE auditor has been assessed under the fit and proper policy, report ‘yes’ in column 10. If RSE auditor appointed on an interim basis has not yet been assessed under the fit and proper policy, report ‘interim’ in column 10; otherwise, report ‘no’.if ‘no longer acting as a responsible person’ is reported in column 9, report the date that the RSE auditor ceased to hold the responsible person position in column 11; if ‘changed’ or ‘unchanged’ is reported in column 9, leave column 11 blank; andthe business phone number in column 12 and business email address in column 13.The types of responsible person status are: ‘changed’, ‘unchanged’, ‘no longer acting as a responsible person’ or ‘new responsible person’:if all information about an existing responsible person remains unchanged, report the status as ‘unchanged’;if the existing responsible person is no longer a responsible person, report the status as ‘no longer acting as a responsible person’; andif any information about an existing responsible person reported in item 2.1 column 1 to column 8 inclusive, column 10, column 12 and column 13 has changed, report the status as ‘changed’.
ABN
Represents a unique public identifier issued to an entity registered in the Australian Business Register to be used in dealings with government. A company registered under the Corporations Act 2001 or a business entity carrying on an enterprise in Australia is entitled to an ABN.
Responsible persons information – New RSE auditor details
Item 2.2 collects information about the RSE licensee’s newly appointed RSE auditor(s).
Unit of measurement: report dates in item 2.2 column 4 and column 10 as DD/MM/YYYY; report item 2.2 column 8 as a whole number.
Item 2.2
Report each new RSE auditor appointed by the RSE licensee during the reporting period as a separate line in item 2.2.For each RSE auditor, report:the title in column 1, the given name(s) in column 2, the family name or surname in column 3, the date of birth in column 4 and former name(s), if any, in column 5;name of the organisation which employs the RSE auditor in column 6;ABN of the organisation which employs the RSE auditor in column 7;number of RSEs within an RSE licensee’s business operations that the RSE auditor is appointed to audit in column 8;if the RSE auditor has been assessed under the fit and proper policy, report ‘yes’ in column 9. If RSE auditor appointed on an interim basis has not yet been assessed under the fit and proper policy, report ‘interim’ in column 9; otherwise, report ‘no’;the date that the RSE auditor commenced in the responsible person position in column 10;the business phone number in column 11 and business email address in column 12.
Responsible persons information – Existing RSE actuary details
Item 3.1 collects about the RSE licensee’s current RSE actuary or actuaries and any RSE actuary who has ceased during the reporting period.
Unit of measurement: report dates in item 3.1 column 4 and column 12 as DD/MM/YYYY; report item 3.1 column 8 and column 9 as whole numbers.
Item 3.1
Report each RSE actuary appointed by the RSE licensee as a separate line in item 3.1.For each RSE actuary, report:the title in column 1, the given name(s) in column 2, the family name or surname in column 3, the date of birth in column 4 and the former name(s), if any, in column 5;name of the organisation which employs the RSE actuary in column 6;ABN of the organisation which employs the RSE actuary in column 7;number of RSEs within the RSE licensee’s business operations to which the RSE actuary is appointed to provide actuarial services in column 8;number of sub-funds within the RSE licensee’s business operations to which the RSE actuary is appointed to provide actuarial services in column 9. If there are no sub-funds within any RSEs within the RSE licensee’s business operations, report ‘0’ in column 9;the responsible person status in column 10;if the RSE actuary has been assessed under the fit and proper policy, report ‘yes’ in column 11; if RSE actuary appointed on an interim basis has not yet been assessed under the fit and proper policy, report ‘interim’ in column 11; otherwise, report ‘no’;if ‘no longer acting as a responsible person’ is reported in column 10, report the date that the RSE actuary ceased to hold the responsible person position in column 12; if ‘existing responsible person’, ‘unchanged’ or ‘new responsible person’ is reported in column 10, leave column 12 blank; andthe business phone number in column 13 and business email address in column 14.The types of responsible person status are: ‘changed’, ‘unchanged’ or ‘no longer acting as a responsible person’:if all information about an existing responsible person reported in item 3.1 column 1 to column 9 inclusive, column 11, column 13 and column 14 remains unchanged, report the status as ‘unchanged’;if the existing responsible person is no longer a responsible person, report the status as ‘no longer acting as a responsible person’; andif any information about an existing responsible person reported in item 3.1 column 1 to column 9 inclusive, column 11, column 13 and column 14 has changed, report the status as ‘changed’.
Responsible persons information – New RSE actuary details
Item 3.2 collects about the RSE licensee’s newly appointed RSE actuary or actuaries.
Unit of measurement: report dates in item 3.2 column 4 and column 11 as DD/MM/YYYY; report item 3.2 column 8 and column 9 as whole numbers.
Item 3.2
Report each RSE actuary newly appointed by the RSE licensee during the reporting period as a separate line in item 3.2.For each RSE actuary, reportthe title in column 1, the given name(s) in column 2, the family name or surname in column 3, the date of birth in column 4 and the former name(s), if any, in column 5;name of the organisation which employs the RSE actuary in column 6;ABN of the organisation which employs the RSE actuary in column 7;number of RSEs within the RSE licensee’s business operations to which the RSE actuary is appointed to provide actuarial services in column 8;number of sub-funds within the RSE licensee’s business operations to which the RSE actuary is appointed to provide actuarial services in column 9. If there are no sub-funds within any RSEs within the RSE licensee’s business operations, report ‘0’ in column 9;if the RSE actuary has been assessed under the fit and proper policy, report ‘yes’ in column 10; if RSE actuary appointed on an interim basis has not yet been assessed under the fit and proper policy, report ‘interim’ in column 10; otherwise, report ‘no’;the date that the RSE actuary commenced in the responsible person position in column 11; andthe business phone number in column 12 and business email address in column 13.
Notification that a responsible person is no longer fit and proper
Item 4 collects certain information about where a responsible person is no longer fit and proper.
Unit of measurement: report dates in column 4 and column 6 as DD/MM/YYYY.
Item 4
Report the title of the responsible person in column 1.Report the given name(s) of the responsible person in column 2.Report the family name or surname of the responsible person in column 3.Report the date of birth of the responsible person in column 4.Report the position title of the responsible person in column 5.Report the date that the responsible person was assessed as being no longer fit and proper in column 6.
Address details
Item 5 collects an RSE licensee’s address.
Item 5
Report address line 1, address line 2, suburb, state and postcode, in item 5.1 and item 5.2 respectively. For item 5.1 this must be a street address.
Registered address of the RSE licensee
Represents the registered address of the RSE licensee
Postal address of the RSE licensee
Represents the postal address of the RSE licensee
Billing contact information
Item 6 collects information about an RSE licensee’s billing contact person.
Item 6
For item 6, report the title of the billing contact person in column 1, the given name(s) of the billing contact person in column 2, the family name or surname of the billing contact person in column 3, the position title of the billing contact person in column 4, the business phone number for the billing contact person in column 5, the business email address for the billing contact person in column 6 and whether the billing contact person prefers to receive the invoice by mail or email, in column 7.Report address line 1, address line 2, suburb, state and postcode of the address to which invoices are to be sent in item 6.1.
Crisis management contact details
Item 7 collects an RSE licensee’s primary and secondary crisis management contact person.
Item 7
Report the details of the primary crisis management contact person in item 7.1 and the details of the crisis management secondary contact person in item 7.2.For the contact person, report in item 7.1 and item 7.2: title in column 1, given name(s) in column 2, the family name or surname in column 3, the position title in column 4, mobile phone number in column 5, direct phone number in column 6 and email address in column 7.Report the phone number for the recovery site in item 7.3.
Crisis management contact
Represents the individual nominated to be a contact person in the event of a crisis in accordance with the requirements in Prudential Standard SPS 232 Business Continuity Management.
Recovery site
Represents the location nominated as the recovery site as defined in Prudential Standard SPS 232 Business Continuity Management.
Interpretation
For the purposes of these instructions:
responsible person has the meaning given in Prudential Standard SPS 520 Fit and Proper;
RSE actuary means an actuary appointed by the RSE licensee to perform functions in relation to its business operations;
RSE auditor means an auditor appointed by the RSE licensee to perform functions within its business operations;
RSE licensee has the meaning given in section 10(1) of the SIS Act;
SIS Act means Superannuation Industry (Supervision) Act 1993; and
sub-fund means a defined benefit sub-fund within the meaning given in Prudential Standard SPS 160 Defined Benefit Matters.