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APRA releases minor amendments to reporting standards under the Superannuation Data Transformation project

The Australian Prudential Regulation Authority (APRA) has commenced consultation on minor amendments to reporting standards introduced under Phase 1 of the Superannuation Data Transformation (SDT) project. 

The proposed amendments clarify investment option reporting and expenses reporting, reduce the frequency of reporting for some requirements and increase the time for submission of data for some requirements.

APRA’s SDT project aims to drive better industry practices and improve member outcomes through heightened transparency.

The discussion paper is available on the APRA website at: Phase 1 Minor Amendments

Superannuation Data Transformation

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For more information contact APRA on 1300 558 849.

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.