Commonwealth Bank of Australia (CBA) has been informed by Colonial First State Investments Limited (CFSIL) that additional licence conditions have been imposed by Australian Prudential Regulation Authority (APRA) on the superannuation licence held by CFSIL, a wholly owned subsidiary of CBA.
The additional conditions require CFSIL to document the way in which it has considered its obligations under the members' best interests and members' priority covenants, and maintain a record of all relevant documents.
If CFSIL members have any concerns or questions about this matter, we encourage them to contact the Colonial First State contact centre on 131336.
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