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APRA releases stakeholder survey results

Monday 21 September 2009

 

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

When APRA published its Service Charter in May 2008, it said it will be undertaking 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 APRA's supervision.

Conducted 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 overall survey results were, according to ASR, '… a strong endorsement of APRA's prudential framework and approach to supervision. Regulated entities believe that APRA has had a positive impact on their industry.'

APRA will use the ASR report as an important performance tool and as a benchmark for future surveys.

The survey report is published on the APRA website: APRA Stakeholder Survey

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Contact APRA Media Unit, on +61 2 9210 3636

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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 $6.5 trillion in assets for Australian depositors, policyholders and superannuation fund members.