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APRA has released for consultation proposed amendments to the Prudential Standard SPS 114 operational risk financial requirement and associated guidance.
APRA has published a new letter to industry outlining its policy and supervision priorities for banking, superannuation and insurance for the first six months of the year.
The additional licence conditions follow an internal report prepared by NGS’ internal auditor in August 2022, an independent tripartite review undertaken at APRA’s request and delivered in April 2023, and a cyber incident in March 2023.
The letter released today follows APRA’s commitment in the Superannuation Data Transformation (SDT) Phase 2 Response Paper to reduce duplicate reporting and reporting burden.