cps
Cyber security stocktake exposes gaps
… to assess their compliance with prudential standard CPS 234 Information Security (CPS 234) . The purpose of the standard is to ensure that … cyber security threats. The decision to undertake the CPS 234 tripartite assessment sits as part of APRA’s …
Remuneration reform - timeline
… for APRA’s remuneration reforms is as follows: - The new CPS 511 was consulted on with industry in July 2019 and …
APRA Deputy Chair Margaret Cole - Speech to the Conexus Chair Forum Sorrento
… obligations under the cross-industry prudential standards CPS 234 Information Security and CPS 230 Operational Risk Management. You may wonder why one … year. Let me explain why. Doubling down on cyber risks CPS 234 came into effect in 2019 to strengthen the resilience …
APRA General Manager of Governance, Culture, Remuneration and Accountability, Stuart Bingham – Speech to the Financial Services Assurance Forum
… incentives and consequence management. As you know, CPS 511 Remuneration is coming into force next year for … Combined with the uplift in remuneration practices under CPS 511, we expect FAR to drive improvements in how entities … things go wrong in order to better understand the why. CPS 230 Operational Resilience But of course, even better …
APRA strengthens transparency on remuneration and bank disclosures
… will support the cross-industry Prudential Standard CPS 511 Remuneration (CPS 511), which was introduced last year to strengthen … requirements will take effect after the implementation of CPS 511 in 2023 for large entities and 2024 for smaller …
Executive Director Policy and Advice Division Renée Roberts - Speech to Risk Management Institute of Australasia Annual Conference 2022
… consultation package introduced two new draft standards – CPS 190 Financial Contingency Planning and CPS 900 Resolution Planning – standards that are closely related yet critically different. CPS 190 represents the last bastion of APRA’s supervisory …
APRA publishes frequently asked question on the treatment of the Minimum Transfer Amount limit where the base currency is foreign-denominated
… entities in determining their requirements under CPS 226: Margining and Risk Mitigation for Non-centrally …
Role of the Appointed Actuary
… asked questions March 2019 Letter Letter to Industries - CPS 320 Appointed Actuary Prudential Standard Consequential … KB Draft prudential standards Draft Prudential Standard CPS 220 Risk Management March 2019 PDF 176.88 KB Draft Prudential Standard CPS 510 Governance March 2019 PDF 290.81 KB Draft Prudential …
Prudential framework minor updates
… private health insurance, ADI Prudential Standard CPS 320 Actuarial and Related Matters (CPS 320) General insurance, life insurance, private health … Refer to attached draft CPG 110 for proposed changes. CPS 320 Actuarial and Related Matters APRA proposes to …
Consultation on financial resources for risk events in superannuation: Operational risk financial requirement
… policy area with the development of Prudential Standard CPS 230 Operational Risk Management (CPS 230), APRA has taken time to carefully consider the path … APRA’s simpler approach is focused on integration with CPS 230 and better enabling use of the ORFR when needed. …
Consultation on zero and negative interest rates
… from zero and negative interest rates Prudential Standard CPS 220 Risk Management (CPS 220) requires an ADI to maintain a risk management … framework to manage material risks. As defined in CPS 220, material risks are those that could have a material …
APRA releases revised remuneration standard for consultation
… are a number of revisions to draft Prudential Standard CPS 511 Remuneration (revised CPS 511). The key revisions for SFIs include: replacing the … Mr Lonsdale said. The consultation period for revised CPS 511 will close on 12 February 2021. It is scheduled to be …
Additional insights on common cyber resilience weaknesses
… entities must comply with the baseline requirements in CPS 234 Information Security ( CPS 234 ) and reflects APRA’s ongoing commitment to sharing … security control weakness notifiable under paragraph 36 of CPS 234. APRA also recommends that entities conduct regular …
APRA consults on margining and risk mitigation requirements for non-centrally cleared derivatives
… activity. Released today, APRA’s draft Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives (CPS 226), proposes to require APRA-regulated institutions … standard by 20 May 2016. A discussion paper and draft CPS 226 can be found on the APRA website. Background Q: What …
APRA releases snapshot of industry practice in risk culture
… much of this work has been APRA’s Prudential Standard CPS 220 Risk Management , which came into effect on 1 January 2015. Amongst other things, CPS 220 requires each Board of an authorised deposit-taking … requirements on risk management ( Prudential Standard CPS 220 Risk Management ) require Boards of ADIs and insurers …
APRA launches Westpac investigation and increases capital requirement add-ons to $1 billion
… of the prudential standards including Prudential Standard CPS 510: Governance, Prudential Standard CPS 520: Fit and Proper, and Prudential Standard CPS 220: Risk Management; and (e) there was a failure to …
APRA proposes stronger requirements on remuneration to enhance conduct, risk management and accountability
… customers and shareholders. Draft prudential standard CPS 511 Remuneration introduces heightened requirements on … financial positions,” Mr Lonsdale said. Mr Lonsdale said CPS 511 would complement the Banking Executive Accountability … of the discussion paper and the draft Prudential Standard CPS 511 Remuneration are available on the APRA website at: …
APRA and ASIC host Superannuation CEO Roundtable
… Regulation Authority APRA’s Prudential Standard CPS 230 Operational Risk Management is designed to strengthen … commences on 1 July 2025. APRA’s Prudential Standard CPS 234 Information Security (CPS 234) aims to ensure that APRA regulated entities take …
Interim Policy and Supervision Priorities update
… the standards expected of them under Prudential Standard CPS 234 Information Security (CPS 234). All remaining CPS 234 tripartite assessments should be submitted to APRA in …
APRA remakes Prudential Standard APS 117 Capital Adequacy: Interest Rate Risk in the Banking Book (Advanced ADIs)
… which has been replaced by Prudential Standard CPS 001 Defined terms . The remade standard can be found at: …