The Australian Prudential Regulation Authority (APRA) today welcomed the appointments by the Treasurer, The Hon Peter Costello MP, of Dr John Laker, Mr (Kerry) Ross Jones and Mr Stephen Somogyi as its new members.
Dr Laker and Mr Jones will also hold the positions of Chairman and Deputy Chairman respectively.
All three members will take up their full-time appointments on 1 July 2003.
APRA is the prudential regulator of the financial services industry including banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry. It currently regulates $1.5 trillion in assets for 20 million Australians.
