New Statement of Expectations and Statement of Intent for the Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) has published its Statement of Intent (SoI) in response to the Government’s Statement of Expectations (SoE).
The SoI outlines APRA’s response to the Government’s expectations regarding APRA’s role, Government policy priorities, relationships with external stakeholders, and organisational matters, and confirms APRA’s intention to continue striving to be a high-performing and responsive prudential regulator for the benefit of the Australian community.
Links to the SoE and SoI can be found below:
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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 trillion in assets for Australian depositors, policyholders and superannuation fund members.