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The exemption applies from 15 August 2023 and removes the requirement to obtain approval to own or control an RSE licensee for certain RSE licensee directors holding shares in the RSE licensee, where they are not entitled to a personal financial benefit from the shareholding.
Recognising the unique circumstances of Avenue Bank's application, APRA judged that a short extension was warranted. APRA does not view this decision as setting a precedent for other Restricted ADIs.
APRA welcomes a court decision granting an injunction to prevent an individual from carrying on unauthorised banking business and using the word “bank” without a licence.
The final determination released today removes the need for APRA to make individual determinations for every MySuper product for which performance histories are required to be combined.
APRA took action against Bendigo in 2020 in response to its breaches of APS 210 Liquidity. Bendigo has since completed a comprehensive review into the bank’s adherence with APRA’s liquidity requirements and a remediation plan which addresses the weaknesses to APRA’s satisfaction.
In the letter to industry, APRA reflects on the challenging reinsurance environment and reminds insurers that they can consider a range of reinsurance solutions including both traditional and ILS options under the prudential framework.
This consultation aims to ensure consistency between the terminology used in the amended private health insurance (PHI) legislation and APRA's PHI reporting standards.
Under the updates to Prudential Standard CPS 511 Remuneration, APRA-regulated entities will need to annually publish information on their remuneration frameworks, design, governance and outcomes.
