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APRA releases results of second stakeholder survey

Friday 29 July 2011

 

Conducted earlier this year by Australian Survey Research (ASR), the survey collected responses from two groups of stakeholders using a similar questionnaire: one of regulated institutions and a shorter one of industry representatives and other knowledgeable observers.

According to ASR, the overall findings of the 2011 survey were very similar to the first survey and were ‘... an excellent result and further endorsement of APRA’s prudential framework and approach to supervision. Regulated entities agree that APRA has had a positive impact on their industry.’

The first survey of APRA’s stakeholders was conducted in 2009, also by ASR. When APRA published its Service Charter in May 2008, it said it would undertake surveys of regulated institutions, industry bodies and other stakeholders to assist its understanding of the impact of the prudential framework and the effectiveness of its supervision.

The results of the 2011 APRA Stakeholder Survey are published on APRA's website.

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6 trillion in assets for Australian depositors, policyholders and superannuation fund members.