APRA Releases Additional Information For Entities To Get Set For APRA Connect
We are now counting down the days to APRA Connect go-live!
Included in this email are the latest updates and actions entities need to complete in preparation for 13 September.
Important date for responsible persons and BEAR information
All entities will be responsible for maintaining entity information, such as contact details, responsible persons and related parties (including Banking Executive Accountability Regime (BEAR) reporting for Authorised Deposit-taking Institutions (ADIs)) on APRA Connect.
To enable a smooth transition to APRA Connect all responsible persons and BEAR data submitted in D2A prior to 11:59pm, 5 September will be migrated to APRA Connect.
Entities should submit any known updates to responsible persons and BEAR prior to that date.
Where invalid data has been submitted in D2A, placeholders will be entered into APRA Connect during migration. Entities are required to review and update responsible person information migrated into APRA Connect.
Transition of responsible persons and BEAR updates to APRA Connect
Entities are requested to pause any responsible persons updates and BEAR submissions in D2A for the period from 6th September. Any updates for the period 6-12 September should be submitted through APRA Connect after 13 September.
The APRA Connect Guide, Chapter 5 - Company Details and Corporate Profile Returns, provides information on how to add or update responsible persons and BEAR returns.
Entities that need to submit BEAR information in the week of 6 September to meet required reporting timeframes should submit via D2A. APRA will update this data in APRA Connect, and the data will be available soon after APRA Connect goes live. Please note that the data may not be immediately available and entities are asked to check back within 24 hours or contact APRA at email@example.com.
Updated Superannuation taxonomy artefacts
APRA has made minor changes to taxonomy artefacts covering the SDT collections, specifically the RSE Structure reporting taxonomy and validation rules.
See more information on Taxonomy artefacts and downloadable zip files.
Superannuation entities should also note APRA’s advice on reporting timetables for MySuper and trustee-directed products released 16 August 2021.
Application Programming Interface (API) update
The APRA Connect Application Programming Interface (API) functionality for the submission of data returns will not be available at go-live. APRA will advise when API submissions will be available in the APRA Connect test and production environments.
Reminders - What entities need to do now to get ready for go-live
The APRA Connect test and production environments are distinct and separate environments and there is no data transfer between the two environments.
Entities will need to be ready to set up users in the APRA Connect production environment from 13 September. Entities are required to nominate an initial Regulatory Reporting Administrator (RRA) for each entity (ABN) via the D2A form (RRA_PROD: APRA Connect nomination for 13 September go live). Entities will also need to nominate any additional roles that are required to be assigned to the initial RRA. Additional roles that can be requested for the initial RRA are Corporate Profile Administrator and Ad hoc return permissions.
APRA Connect Support
The APRA Connect Guide should be referred to for information and help to use APRA Connect. Webinar recordings and Frequently Asked Questions are also available for more information.
Taxonomy artefacts are provided to assist Private Health Insurers and Superannuation entities prepare data for submission.
A webinar is scheduled for Wednesday 1 September 2021 to provide entities with an overview of available information and support and will include a demonstration of APRA Connect.
Business Lead, APRA Connect