cps
APRA moves to strengthen crisis preparedness in banking, insurance and superannuation
… reducing the negative consequences resulting from failure. CPS 190 Financial Contingency Planning (CPS 190) would ensure all APRA-regulated entities have plans … in line with their size, complexity and business models. CPS 900 Resolution Planning (CPS 900) would require large or …
APRA finalises its cross-industry amendments to margin requirements
… cleared derivatives. The changes to Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives (CPS 226) will apply to all authorised deposit-taking … substituted compliance with APRA’s margin requirements in CPS 226, provided that the PRA and FCA’s margin requirements …
APRA rescinds information paper on cloud outsourcing and ceases ad hoc credit reporting collection
… Cloud Computing Services” in light of Prudential Standard CPS 230 Operational Risk Management (CPS 230) . CPS 230 comes into effect 1 July 2025 (replacing existing …
APRA releases new prudential standards to strengthen the role of the Appointed Actuary within insurers
… of two new prudential standards: Prudential Standard CPS 320 Actuarial and Related Matters (CPS 320) and Prudential Standard GPS 340 Insurance and … The creation of a new cross-industry prudential standard (CPS 320) harmonises the requirements and expectations for …
APRA finalises new measures to enhance governance in the private health insurance industry
… new prudential standards for PHI are: Prudential Standard CPS 510 Governance (CPS 510), a stronger cross-industry standard on board … standard, HPS 510 Governance ; Prudential Standard CPS 520 Fit and Proper (CPS 520), which requires boards to …
Improving cyber resilience: the role boards have to play
… assessment of a pilot set of entities’ compliance with CPS 234 , APRA’s Information Security Prudential Standard. … issues. APRA’s technology resilience data collection and CPS 234 independent assessment APRA’s pilot technology … with the financial industry. APRA’s pilot independent CPS 234 tripartite assessment ( CPS 234 assessment ) involved …
APRA adds to list of foreign regulators whose margin requirements are eligible for substituted compliance
… (APRA) has made a minor amendment to Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives (CPS 226), by adding the UK’s Prudential Regulation Authority …
APRA releases final prudential standard and prudential practice guide on risk management
… today includes final versions of Prudential Standard CPS 220 Risk Management (CPS 220) and Prudential Practice Guide CPG 220 Risk … The response to submissions and the final versions of CPS 220 and CPG 220 are available on APRA’s website. The …
APRA releases consultation package on risk management for private health insurers
… to apply APRA’s cross-industry Prudential Standard CPS 220 Risk Management (CPS 220), and associated guidance, to private health … requirements for private health insurers be aligned with CPS 220 as APRA considers the fundamental principles of risk …
APRA releases material service provider register template
… the requirement of paragraph 51 of Prudential Standard CPS 230 Operational Risk Management (CPS 230). A completed material service provider register is …
APRA consults on new cross-industry standard to centralise existing standards on definitions for ADIs and insurers
… health insurers. The proposed new prudential standard CPS 001 Defined terms (CPS 001) follows APRA’s strategic initiative to Modernise the …
APRA reinforces expectations on authentication controls in superannuation sector
… entities of their obligations under Prudential Standard CPS 234 Information Security and outlined specific actions to … the Financial Accountability Regime (FAR) responsible for CPS 234 compliance. The letter is available on the APRA …
APRA finalises prudential standard aimed at combatting threat of cyber attacks
… security management. The new Prudential Standard CPS 234 Information Security will shore up APRA-regulated … respond swiftly and effectively in the event of a breach. CPS 234 requires APRA-regulated entities to: clearly define … Industry was supportive of the intent and direction of CPS 234, however, APRA agreed to make several amendments …
APRA consults on updated guidance for managing information security risks
… prudential standard on information security, CPS 234 , which comes into effect from 1 July this year. It … of the threat, APRA fast-tracked the implementation of CPS 234. This updated guide will assist industry to implement … before releasing the final version of CPG 234 prior to CPS 234 coming into force on 1 July. The consultation package …
APRA finalises requirements for remuneration disclosure
… remuneration. Under the updates to Prudential Standard CPS 511 Remuneration, APRA-regulated entities will need to … publish the findings from an implementation review of CPS 511 to assist industry with implementing the new requirements. A response paper to the CPS 511 consultation and the updated prudential standard are …
APRA amends operational risk financial requirements for superannuation trustees
… a clear and direct relationship with Prudential Standard CPS 230 Operational Risk Management (CPS 230); and amend the APRA notification requirements to …
APRA announces new commencement dates for prudential and reporting standards
… commencement date Revised commencement date Cross-industry CPS 226 Margining and Risk Mitigation for Non-Centrally … 1 September 2020, 2021 1 September 2021, 2022 CPS 234 Information Security (third-party arrangements … for non-centrally cleared derivatives as set out in CPS 226 by 12 months, consistent with the joint decision by …
APRA moves to strengthen governance among private health insurers
… with the more forceful cross-industry equivalent standard, CPS 510, to strengthen governance practices; extend cross-industry prudential standard CPS 520 Fit and Proper to the industry to ensure the … has resulted in the adoption from 1 April this year of CPS 220, APRA’s cross-industry risk management prudential …
APRA’s new prudential standard on operational risk management comes into force
… come into force. Cross-industry Prudential Standard (CPS) 230 Operational Risk Management requires APRA-regulated … with bad actors. APRA Member Therese McCarthy Hockey said CPS 230 will play an important role in financially protecting … vulnerabilities and have plans to mitigate them, CPS 230 requires entities to have a detailed level of …
APRA Member Geoff Summerhayes - Speech to CyBSA 2019 Cyber Breach Simulation Australia
… of APRA’s information security prudential standard, CPS 234 Information Security, is for regulated entities to … regulated entities are facing. In the four months since CPS 234 came into force, APRA has received 36 incident … and traditional support arrangements, all captured by CPS 234. You cannot secure what you don’t understand and you …