The Australian Prudential Regulation Authority (APRA) has agreed to a request from Lutheran Laypeople’s League of Australia Limited to revoke its licence to operate as an authorised deposit-taking institution (ADI) and revert to a Religious Charitable Development Fund.
The updated list of all APRA-authorised ADIs is available on the APRA website at: Register of authorised deposit-taking institutions.
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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 $9.8 trillion in assets for Australian depositors, policyholders and superannuation fund members.