7 August 2019
The Australian Prudential Regulation Authority (APRA) provides the following update on its implementation of the recommendations directed at APRA by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
As stated in APRA’s 11 February announcement, there were 10 recommendations requiring APRA’s attention. Of the 10, APRA indicated that nine would be completed by the end of 2020; of those, four would be completed in 2019.
APRA is on track to meet all of the timelines and the table (at the link below) provides an update on APRA’s progress on each of the recommendations assigned to it.
APRA’s examination of each of the 12 matters in relation to individual entities that were referred to it by the Royal Commission is advanced and APRA will continue to liaise with ASIC and other relevant agencies to promptly address the matters identified.
APRA's update on the implementation of the recommendations contained in the Final Report of the Royal Commission can be found at: APRA's responses to Royal Commission recommendations.