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APRA releases results of third stakeholder survey

Friday 12 July 2013

 

13.24

The Australian Prudential Regulation Authority (APRA) today released the results of its third survey of stakeholders.

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.

The first survey of APRA’s stakeholders was conducted in 2009 with the second taking place in 2011. When APRA first 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 APRA’s prudential framework and the effectiveness of its supervision.

According to ASR, the overall results of the 2013 survey are ‘a positive result and ongoing validation of APRA’s prudential framework, its staff and its approach to supervision.’

The results of the 2013 APRA Stakeholder Survey are published on the APRA 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.