APRA details consultation on targeted changes to CPS 230 for non-traditional service providers
The Australian Prudential Regulation Authority (APRA) is undertaking a consultation on targeted amendments to CPS 230 Operational Risk Management (CPS 230). These proposed changes aim to better accommodate the needs of regulated entities that maintain material arrangements with non-traditional service providers (NTSPs).
Building on industry engagement throughout the year, and following October’s announcement, APRA is inviting submissions until 30 January 2026. APRA plans to finalise the targeted changes to CPS 230 ahead of the 1 July 2026 compliance date. This is intended to streamline processes for regulated entities, alleviate regulatory burden, and ensure a smooth transition.
The letter is available on APRA’s website at: Consultation on targeted amendments to CPS 230 Operational Risk Management
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.