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Prepare for APRA Connect

Last updated: 30 August 2021

Entity readiness is essential to the successful implementation of APRA Connect and each entity is responsible for ensuring they set up their users and are able to submit information when it is due. 

The APRA Connect test environment is available for entities to become familiar with the interface and functionality of APRA Connect and trial submission of entity information and data.

Entities should now be preparing for APRA Connect which will be available from 13 September 2021.

Preparing to access APRA Connect

Entities should understand:

  • What is changing and what is not changing as a result of APRA Connect
  • Any potential impacts to entity submission processes, and the need to commence planning ahead of the transition
  • The process for authorising users with myGovID and RAM to act on behalf of their business.  

Entities are expected to:

  • Have taken the opportunity to access the APRA Connect test environment to become familiar with functionality and practice data preparation and submission
  • Plan and allocate resources to facilitate the transition to APRA Connect (if required)
  • Ensure users have myGovID and are authorised in RAM for each entity they are reporting for i.e. each ABN
  • Nominate the initial Regulatory Reporting Administrator (RRA) for each of APRA Connect test and production environments via the D2A forms: RRA : APRA Connect test nomination and RRA_PROD: APRA Connect nomination for 13 September go live
     
  • Review the support material provided by APRA to build knowledge 
  • Access taxonomy artefacts to assist in the preparation of data 

From 13 September, Entities are expected to:

  • Login to APRA Connect using myGovID authentication 
  • Assign and manage user roles and permissions
  • Maintain entity information, including corporate profile and contact information
  • Submit responsible persons and BEAR where applicable
  • Prepare and submit data (where returns are available)   
  • Contact APRA Service Desk for any technical issues at support@apra.gov.au.  For urgent issues call +61 2 9210 3400 between 9am and 5pm AEST weekdays.

Accessing APRA Connect

The APRA Connect test and production environments are separate. There is no data transfer between the two environments and therefore entities will need to be ready to set up users in APRA Connect from 13 September. 

Each organisation is responsible for the management of their APRA Connect users, and for ensuring roles are assigned in line with their own governance processes.

Each entity (ABN) must have at least one person assigned to the Regulatory Reporting Administrator role, which is the only role with permissions to manage user access. 

APRA Administrators will assist by assigning the initial Regulatory Reporting Administrator with their roles and permissions upon their first interaction with APRA Connect. 

Nominating a Regulatory Reporting Administrator for APRA Connect

To access APRA Connect test and production environments entities are required to nominate an initial Regulatory Reporting Administrator for each entity (ABN). This information will ensure that APRA can assign an initial Administrator role for each entity, which will in turn enable the entity to assign roles to other users. Entities should use the D2A forms to submit the nomination for each ABN to APRA. 

  • For APRA Connect: entities should submit RRA_PROD: APRA Connect nomination for 13 September go live
     
  • For APRA Connect test environment: entities should submit RRA: APRA Connect test nomination

Roles assigned in each environment

APRA will assign the RRA role and any additional roles nominated by the entity. The additional roles that can be requested for the initial RRA are Corporate Profile Administrator and Ad hoc return permissions. 

APRA will assign the initial RRA the additional roles of Corporate Profile User and Ad hoc return permissions for the test environment only. This will ensure that the RRA can cover all capability areas where an entity chooses to assign only one RRA. 

What this means for entities generally

All entities should be preparing for the September 2021 commencement of APRA Connect to report entity information such as entity profile, contact details, responsible persons, related parties and be able to submit ad hoc supporting information to APRA.

The commencement date of data reporting through APRA Connect will vary for each industry.  As APRA replaces existing collections with new collections, they will be introduced on APRA Connect. 

Direct to APRA (D2A) will continue to be used for most existing collections and no historical regulatory data will be migrated to APRA Connect. This means that dual reporting systems will be in place for the medium term and any resubmissions for D2A-submitted returns must be made through D2A.

APRA Connect will enforce data format rules and validations differently from D2A so entities will need to ensure that submissions comply with relevant reporting standards and associated taxonomies. 

Note: Form 701 Data on intermediated business with APRA authorised general insurers, Lloyd’s underwriters and unauthorised foreign insurers, (which is submitted by Australian Financial Services Licence holders who are authorised to conduct GI intermediary brokering business) will not be transitioned to APRA Connect in January 2022. In 2022, APRA will advise revised timeframes. Entities submitting Form 701 should continue to submit the form via current methods. 

What this means for industries

The following information is provided to help entities understand industry-specific differences from the general implementation approach.

Authorised Deposit-taking Institutions (ADIs)

In addition to what this means for entities generally:

  • ADIs will be required to maintain all Banking Executive Accountability Regime information (including for example, accountability statement and maps) in APRA Connect from September 2021.
  • APRA continues to consult on revisions to the capital framework for ADIs, and as the related collections are replaced, they will be introduced in APRA Connect. ARS 220 Credit Quality and ARS 115 Operational Risk are expected to go live in APRA Connect in March 2022.

Superannuation

In addition to what this means for entities generally:

  • APRA has consulted with the industry about APRA’s Superannuation Data Transformation and new collections will be introduced in APRA Connect, with the first new collection on APRA Connect in 2021.
  • Entities should refer to taxonomy artefacts to support the preparation of data.
  • ​​​In response to industry feedback a pilot was conducted in the external test environment for a small number of Superannuation entities to allow early testing of the system and guidance materials prior to rollout to all entities in June.

Insurance

In addition to what this means for entities generally:

  • APRA is consulting with the industry about the new accounting standard - AASB 17 Insurance contracts. This new collection will be introduced in APRA Connect, but will not start on APRA Connect in 2021.
  • The first data collection to be introduced to APRA Connect after the September 2021 go live date will be the Private Health Insurance (PHI) Reform (HRS 605.0).
  • Entities should be familiar with the test environment which APRA intends to use to support engagement with industry on the design of future data collections.

 

What this means for RegTechs

RegTechs are an important part of the regulatory reporting ecosystem. APRA has and will continue to work with RegTechs as they support the needs of reporting entities. The test environment is an important part of the testing and development processes and access to the test environment will be made available to RegTechs on an ongoing basis.

RegTechs will be required to request access to APRA Connect test environment and complete a Deed for access. 

See more information about RegTech access to APRA Connect test.

 

Subscribe to our APRA Connect updates

You can register for APRA Connect email updates straight to your inbox.  

Contact us

You can contact us at APRAconnect@apra.gov.au