Conglomerate Groups - Draft Prudential Standards (01.47) (Friday, 21 December 2001)
The Australian Prudential Regulation Authority (APRA) today released for comment four draft revised Prudential Standards (including their related Guidance Notes) for authorised deposit-taking institutions (ADIs).....

APRA obtains first enforceable undertaking from trustees of super fund (01.46) (Thursday, 06 December 2001)
The Australian Prudential Regulation Authority (APRA) has obtained an undertaking from the three trustees of the Media Labs Superannuation Fund that will protect the members of the fund pending the rollout of their benefits and the winding up of the fund....

APRA replaces super trustee (01.45) (Tuesday, 04 December 2001)
The Australian Prudential Regulation Authority (APRA) today announced that it has replaced the corporate trustee of the T M Barritt Superannuation Fund, Phenomenon (AUS) Pty Ltd, the sole director of which is Mr Timothy Melrose Barritt. ....

Update on superannuation returns (01.44) (Wednesday, 14 November 2001)
The Australian Prudential Regulation Authority (APRA) has begun issuing show cause letters to superannuation fund trustees who did not lodge annual returns for their funds by the 31 October deadline.  The trustees will be given 14 days to respond. ....

APRA asks for industry comment on cross-sectoral reports (01.43) (Monday, 12 November 2001)
The Australian Prudential Regulation Authority (APRA) is seeking feedback on two reports that have been jointly released by the Basel Committee on Banking Supervision (Basel Committee), the International Association of Insurance Supervisors (IAIS), and the International Organization of Securities Commissions (IOSCO).  ....

Draft Prudential Standard on Outsourcing by ADIs (01.42) (Wednesday, 07 November 2001)
Reflecting the growing importance of outsourcing in the financial sector, the Australian Prudential Regulation Authority (APRA) today released for comment a draft Prudential Standard on outsourcing by authorised deposit-taking institutions (ADIs).....

Call your super fund first for early release of super (01.41) (Tuesday, 06 November 2001)
It has come to the attention of the Australian Prudential Regulation Authority (APRA) that at least one company has been widely promoting itself as having assisted thousands of Australians in gaining early release of their superannuation benefits.  Several others have been advertising similar services.....

New Prudential Standards for general insurance  companies (01.40) (Monday, 05 November 2001)
The Australian Prudential Regulation Authority (APRA) has today released the latest versions of its proposed new Prudential Standards for general insurance companies in Australia.....

APRA gains civil penalty orders against Wes Lofts Superannuation Pty Ltd (01.39) (Tuesday, 30 October 2001)
The Australian Prudential Regulation Authority (APRA) yesterday gained Federal Court orders against the trustee directors of the Wes Lofts (Aust) Superannuation Fund....

APRA appoints acting trustee to superannuation fund (01.38) (Thursday, 25 October 2001)
The Australian Prudential Regulation Authority (APRA) has replaced Harts Staff Superannuation Pty Ltd as corporate trustee of the Harts Australia Staff Superannuation Fund.  ....

New Call Centre number for APRA (01.37) (Friday, 12 October 2001)
APRA's info line number will change to 1300 13 1060 on 15 October.....

APRA calls for on-time lodgement of 2001 super returns (01.36) (Wednesday, 10 October 2001)
The Australian Prudential Regulation Authority (APRA) has begun a campaign to remind superannuation trustees of their obligation to lodge annual returns on time and of the consequences of late lodgement....

Prudential supervision of conglomerate groups (01.35) (Wednesday, 10 October 2001)
The Australian Prudential Regulation Authority (APRA) today released a Policy Discussion Paper finalising its comprehensive supervisory framework for the prudential supervision of conglomerate groups that include an authorised deposit-taking institution (ADI).....

APRA welcomes superannuation options paper (01.34) (Tuesday, 02 October 2001)
The Australian Prudential Regulation Authority (APRA) welcomed the discussion paper Options for Improving the Safety of Superannuation released today by the Minister for Financial Services and Regulation.....

APRA commences action against Wes Lofts Superannuation Pty Ltd (01.33) (Tuesday, 02 October 2001)
The Australian Prudential Regulation Authority (APRA) has commenced civil penalty proceedings in the Federal Court against the directors of Wes Lofts Superannuation Pty Ltd - the trustee of the Wes Lofts (Aust) Superannuation Fund - and related companies Wes Lofts (Aust) Pty Ltd and Quedox Pty Ltd.....

State of Australias banking sector (01.32) (Wednesday, 19 September 2001)
There has been media speculation recently about the impact of high-profile corporate collapses during 2001 on the position of Australian banks.....

APRA winds up company over superannuation avoidance scheme (01.31) (Thursday, 06 September 2001)
APRA Executive General Manager Les Phelps today announced that APRA had succeeded in its application to the South Australian Supreme Court to have liquidators appointed to the Adelaide accounting firm Holloway & Co.....

New Prudential Standards for General Insurance Companies (01.30) (Wednesday, 29 August 2001)
The Australian Prudential Regulation Authority (APRA) today welcomed the amendments to the Insurance Act 1973 that were passed by Parliament earlier this week.....

Court orders a halt to banking schemes (01.29) (Thursday, 23 August 2001)
The Australian Prudential Regulation Authority (APRA) has obtained interim consent orders in the Federal Court preventing Wealth Accelerator Systems Pty Ltd, Wealth Accelerator Holdings Pty Ltd, Enterprise Management Systems (Australia) Pty Ltd and three named individuals from carrying out activities including accepting subscriptions for membership of organisations described as ISH Bank, ECO Bank and EC Market Bank....

APRA Receives Corrections Corp Staff Super Fund Draft Report (01.28) (Wednesday, 22 August 2001)
The Australian Prudential Regulation Authority (APRA) has received a draft report from an independent accounting firm appointed to review the Corrections Corporation Staff Superannuation Fund (CCA) at APRAs expense. ....

Draft Prudential Standard on Board Composition for Authorised Deposit-taking Institutions (01.27) (Wednesday, 01 August 2001)
The Australian Prudential Regulation Authority (APRA) today released for industry comment a draft prudential standard on Board Composition for all Authorised Deposit-taking Institutions (ADIs)........

APRA and ATO issue circular on super contributions (01.26) (Monday, 23 July 2001)
The Australian Prudential Regulation Authority (APRA) and the Australian Taxation Office (ATO) have issued a circular directed at employers that explains their obligation to send employees' voluntary superannuation contributions promptly to the nominated superannuation fund........

APRA testimony at Senate committee hearing (01.25) (Monday, 25 June 2001)
Attached is an opening statement from Australian Prudential Regulation Authority's Chief Executive Officer, Graeme Thompson, presented during APRA's appearance at the 25 June session of the Senate Select Committee on Superannuation and Financial Services....

APRAs supervision of general insurance (01.24) (Thursday, 21 June 2001)
It is not true, as stated in todays Senate debate, that APRA scaled back scrutiny of insurance companies by the Australian Government Actuary after 1998 in order to save money....

APRAs submission to Productivity Commission Review of Superannuation Legislation (01.23) (Thursday, 21 June 2001)
The Australian Prudential Regulation Authority (APRA) today issued its submission to the Productivity Commissions National Competition Policy review of the Superannuation Industry (Supervision) Act and certain other Superannuation Legislation....

APRAs advances in regulation (01.22) (Wednesday, 13 June 2001)
Contrary to reports in the media today, particularly on radio, the Australian Prudential Regulation Authority (APRA) has not scaled back regulation of companies in the last two years. In fact, our regulation has been strengthened by major advances in both policy development and supervisory practice....

Court orders company to cease banking activities (01.21) (Friday, 08 June 2001)
The Australian Prudential Regulation Authority (APRA) today obtained interim orders in the Federal Court preventing Global Monetary Corporation Pty Ltd and two named individuals from, in effect, carrying out banking activities and using the name Global Monetary Bank....

APRA testimony at Senate estimates hearings (01.20) (Tuesday, 05 June 2001)
Attached is an opening statement from Australian Prudential Regulation Authority's Chief Executive Officer, Graeme Thompson, presented during APRA's appearance at the 5 June hearings of the Senate Economics Committee....

Review of Banks Capital Adequacy Requirements: The New Basel Capital Accord (01.19) (Friday, 01 June 2001)
The Australian Prudential Regulation Authority (APRA) today released for information its submission on the Basel Committee on Banking Supervisions second consultative package on proposed changes to the Basel Capital Accord. The current Accord guidelines have been the global benchmark for banks' capital adequacy for over a decade and, in Australia, are applied to all authorised deposit-taking institutions (ADIs) banks, building societies and credit unions.....

Performance audit of bank supervision (01.18) (Wednesday, 30 May 2001)
The Australian National Audit Office (ANAO) today released its performance audit report on the prudential supervision of banks by the Australian Prudential Regulation Authority (APRA)....

APRA welcomes Ministers announcement (01.17) (Monday, 21 May 2001)
The Australian Prudential Regulation Authority (APRA) welcomes the financial hardship assistance package for HIH policyholders announced today by the Minister for Financial Services, JoeHockey....

APRA welcomes HIH Royal Commission (01.16) (Monday, 21 May 2001)
The Chief Executive Officer of the Australian Prudential Regulation Authority (APRA), Graeme Thompson, said today, "APRA welcomes the Government's announcement of a Royal Commission into the HIH collapse....

General insurance reform - update (01.15) (Wednesday, 16 May 2001)
The Australian Prudential Regulation Authoritys (APRAs) CEO, Graeme Thompson, said today that he welcomed the Governments announcement on 15 May that it would speed up the legislative changes needed for implementation of APRAs new prudential supervision framework for general insurance companies....

"Banker" Sentenced (01.14) (Friday, 27 April 2001)
Jakob Hans Jost was sentenced today to a maximum of 54 months imprisonment and fined $7,000, following his conviction for operating an unauthorised bank in Australia and related matters....

HIH Insurance - APRA's role revisited (01.13) (Friday, 20 April 2001)
The provisional liquidation of the HIH Insurance Group is extremely regrettable and is causing a deal of stress for many people who are affected by it directly and indirectly....

HIH - Builders warranty insurance (01.12) (Wednesday, 18 April 2001)
One of the areas affected by the provisional liquidation of the HIH Insurance group has been builders warranty insurance....

APRA releases Basel Core Principles self-assessment (01.11) (Monday, 09 April 2001)
The Australian Prudential Regulation Authority (APRA) today released its self-assessment of the prudential supervision of Australian banks against the Basel Committees Core Principles for Effective Banking Supervision....

General insurance (01.10) (Friday, 06 April 2001)
Following the appointment of a provisional liquidator to the general insurance group HIH, many people have asked whether other general insurers have similar problems....

Review of the Life Insurance Act 1995 (01.09) (Monday, 02 April 2001)
The Australian Prudential Regulation Authority (APRA) today announced plans to review the Life Insurance Act 1995 (LIA). This review will incorporate a fuller harmonisation and integration of friendly societies than previously planned....

HIH Insurance - APRA's Role (01.08) (Saturday, 31 March 2001)
In response to continuing suggestions that it should have acted earlier in appointing an inspector to failed insurance company HIH....

APRAs proposals for reform of the prudential supervision framework for general insurance companies (01.07) (Thursday, 29 March 2001)
The Australian Prudential Regulation Authority (APRA) today released its latest proposals to reform and modernise prudential supervision of general insurance companies in Australia....

HIH-Insurance (01.06) (Monday, 26 March 2001)
Some comments by the Australian Prudential Regulation Authoritys Chief Executive Officer, Graeme Thompson, about the HIH situation were misreported in the Australian Financial Review....

HIH Insurance (01.05) (Friday, 16 March 2001)
On application of the company, the Court appointed a provisional liquidator to the HIH Insurance Group yesterday evening....

APRA launches new journal (01.04) (Monday, 19 February 2001)
APRA launches new journal....

APRA revokes trustee approval (01.03) (Wednesday, 14 February 2001)
The Acting Minister for Financial Services and Regulation, Senator Hon Rod Kemp, yesterday announced that he had given consent for the Australian Prudential Regulation Authority (APRA) to revoke the approval of Commercial Nominees of Australia Ltd....

The New General Insurance Regime (01.02) (Wednesday, 14 February 2001)
The New General Insurance Regime....

APRA welcomes revised proposals on capital adequacy (01.01) (Wednesday, 17 January 2001)
The Basel Committee on Banking Supervision yesterday released detailed proposals for the reform of international capital adequacy guidelines for banks.  The Committees current guidelines, set out in the 1988 Basel Capital Accord, have become the global benchmark for banks capital adequacy........