Mercer Australia has selected Milestone’s regulatory oversight service to automate the new Australian Prudential Regulation Authority (APRA) Superannuation reporting requirements for its financial services business.
Milestone Group is a specialist provider of fund processing solutions to the global funds industry.
The regulatory oversight solution shares the pControl funds platform and provides Mercer with the ability to process the regulatory reports required by APRA.
Ben Walsh, leader of Mercer’s Financial Services business in the Pacific, said: “The APRA requirements are significant for our administration clients. It is important we continue to deliver accurate reporting to them in a timely manner.”
In addition to assisting in the completion of APRA reporting, pControl is also supporting Mercer’s dedicated portal which allows clients to access and contribute data.
Mark Neary, managing director of business development of Milestone in the Asia Pacific, said: “With the significant challenges posed by more sophisticated reporting requirements, it is great to see Mercer has chosen pControl Regulatory Oversight for APRA Superannuation reporting. Mercer has been extremely proactive in responding to APRA’s rule changes, closely considering the need for strong automation and operational controls to satisfy regulator, auditor and trustee requirements.”
