Featured Product

    APRA Commences Post-Implementation Review of Prudential Framework

    May 23, 2018

    APRA commenced the post-implementation review of the superannuation prudential framework by releasing its first of a series of consultation papers on aspects of the prudential framework. Over the next few months, APRA will release short consultation papers covering the other four topic areas addressed in the prudential framework: financial requirements, operational risk and outsourcing; investments; insurance; and member flows and products. APRA is inviting written submissions on all consultation papers by September 26, 2018. A final report on the superannuation post-implementation review is expected to be released by early 2019.

    The consultation papers released include the following:

    • An overarching discussion paper that outlines the purpose of the review and review process and includes questions that seek feedback on the superannuation prudential framework
    • Two short topic papers on governance and risk management

    The post-implementation review covers all prudential and reporting standards (including guidance material) introduced or refined as a result of the 2013 Stronger Super reforms. To facilitate consideration of the various elements of the prudential framework, the review will be conducted under six broad topic areas with a series of questions for each topic on which feedback is sought: governance; risk management; financial requirements, operational risk, and outsourcing; investments; insurance; and member flows and products. APRA will consider changes to the prudential framework to address any gaps identified or issues raised during the review process to improve its effectiveness.

    APRA has begun a post-implementation review of the superannuation prudential framework introduced following the 2013 Stronger Super reforms. The aim of the review is to ensure the prudential and reporting standards, and related guidance, have achieved their objectives and continue to remain fit for purpose.

     

    Related Links

    Comment Due Date: September 26, 2018

    Keywords: Asia Pacific, Australia, Banking, Insurance, Securities, Prudential Framework, Post-Implementation Review, APRA

    Related Articles
    News

    EBA Updates List of Validation Rules for Reporting by Banks

    EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.

    September 10, 2020 WebPage Regulatory News
    News

    EBA Responds to EC Call for Advice to Strengthen AML/CFT Framework

    EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).

    September 10, 2020 WebPage Regulatory News
    News

    NGFS Advocates Environmental Risk Analysis for Financial Sector

    NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.

    September 10, 2020 WebPage Regulatory News
    News

    MAS Issues Guidelines to Promote Senior Management Accountability

    MAS published the guidelines on individual accountability and conduct at financial institutions.

    September 10, 2020 WebPage Regulatory News
    News

    APRA Formalizes Capital Treatment and Reporting of COVID-19 Loans

    APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.

    September 09, 2020 WebPage Regulatory News
    News

    SRB Chair Discusses Path to Harmonized Liquidation Regime for Banks

    SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.

    September 09, 2020 WebPage Regulatory News
    News

    FSB Workshop Discusses Preliminary Findings of Too-Big-To-Fail Reforms

    FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.

    September 09, 2020 WebPage Regulatory News
    News

    ECB Updates List of Supervised Entities in EU in September 2020

    ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.

    September 08, 2020 WebPage Regulatory News
    News

    OSFI Identifies Focus Areas to Strengthen Third-Party Risk Management

    OSFI published the key findings of a study on third-party risk management.

    September 08, 2020 WebPage Regulatory News
    News

    FSB Extends Implementation Timeline for Framework on SFTs

    FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.

    September 07, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5796