Document ID: chunk:federal_register_of_legislation:F2015L00830:body:0:p8
Version: federal_register_of_legislation:F2015L00830
Segment Type: other
Provision Reference: 
Character Range: 23781–26622

all SAFs and SMADFs within the RSE licensee's business operations by type of service provider. Item 3 collects all services where the service is undertaken by the RSE licensee itself and item 4 collects all services where the service is by an external service provider.

Notifying APRA of new outsourcing agreements and updated information

Prudential Standard SPS 231 Outsourcing (SPS 231) requires an RSE licensee to notify APRA when outsourcing agreements have been entered into, ceased or changed. This notification requirement applies to all outsourcing of material business activities.

SRF 331.0 requires reporting of information on outsourcing agreements reported as at the end of the reporting period and therefore cannot be used for the purpose of notifying APRA about new outsourcing agreements, ceased arrangements or changed arrangements, as required under SPS 231.

Details of services – RSE licensee as provider

Reporting basis: report column 3 with respect to transactions that occurred during the reporting period; report column 4 as at the end of the reporting period.

Unit of measurement: report column 3 as thousands of dollars; report column 4 as percentage to no decimal places.

Item 3  Report the service provided by the RSE licensee by role type in item 3.1. Report the role performed by the RSE licensee in column 1. The types of roles are: accountant, administrator, asset consultant, custodian, financial advisor: employer, financial advisor: member, implemented consultant, professional indemnity insurer, internal auditor, investment manager, IT service provider, lawyer, platform provider, promoter, RSE actuary and RSE auditor.

        If the role performed by the RSE licensee is not listed in column 1 of item 3.1, report the service provided by the RSE licensee in item 3.2. Report the description of the other role in item 3.2 column 1.

        For item 3.1 and item 3.2, where the RSE licensee has been appointed as a new service provider during the reporting period, report 'new service provider' and where there is no longer an agreement with the RSE licensee at the end of the reporting period, report 'no longer a service provider of RSE' in column 2. Report 'existing' if the RSE licensee has not otherwise changed during the reporting period.

        For item 3.1 and item 3.2, report the expense of the service performed during the reporting period in column 3.

        For item 3.1 and item 3.2, where the RSE licensee solely performs a particular role, report '100' in column 4. Where more than one service provider performs the same role, report the portion of business activity undertaken by the RSE licensee in column 4. Where 'no longer a service provider' in column 2, report '0' in column 4.

        Example: Custodial services for an RSE are provided by the RSE licensee and