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In a letter to industry, APRA has called for a step-change in how banks, insurers and superannuation trustees manage AI-related risks as it warns that governance, risk management, assurance and operational resilience practices are not keeping pace with AI adoption.

APRA has finalised targeted amendments to prudential standard CPS 230, prudential practice guide CPG 230, and the corresponding Material Service Provider Register Template.

The Australian Prudential Regulation Authority (APRA) is consulting on remaking the Level 3 conglomerate standards with minor administrative updates to ensure they remain current and consistent across APRA’s suite of prudential standards.

APRA is undertaking a consultation on targeted amendments to CPS 230 Operational Risk Management (CPS 230).