Australian Ethical Investment's (ASX:AEF) superannuation arm, Australian Ethical Superannuation (AES), has been required by the Australian Prudential Regulation Authority (APRA) to conduct an independent review of certain related-party arrangements with its parent company, according to a Thursday filing with the Australian bourse.
AES has acknowledged the conditions and reaffirmed its commitment to high governance standards, per the filing.
AES is confident that members' retirement savings remain secure, with all major investment options delivering strong double-digit returns in the past financial year, the filing added.
The company's shares fell 8% in recent Thursday trade.
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