The Australian Prudential Regulation Authority (APRA) has published a letter to all registrable superannuation entity (RSE) licensees outlining its approach for intensifying supervision of fund-level expenditure.
The letter provides RSE licensees with clarity about APRA’s planned activity in this area over the next 12 months, in accordance with APRA’s recently released Corporate Plan.
The letter is available on the APRA website at: APRA intensifying supervision of fund level expenditure.
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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.