APRA Revises Implementation Approach and Timeline for APRA Connect
APRA has released a revised implementation approach and timeline for its new data collection solution, known as APRA Connect, which will replace Direct to APRA (D2A). The revised implementation approach for APRA Connect has been developed taking into account the recent industry feedback, the upcoming changes to data collections, and the longer term regulatory needs. APRA Connect is scheduled to go live at the end of September 2020, with a progressive cut-over of financial data reporting to the new solution. Entities will be required to use both D2A and APRA Connect in the medium term.
APRA is confident that its revised implementation approach will reduce the effort and impact on reporting entities and facilitate a lower risk transition to the new solution. The revised implementation approach for APRA Connect includes the following key points:
- A test environment is planned to be available from the end of June 2020 for entities to familiarize themselves with APRA Connect. Returns will be available in the test environment before entities are required to submit them prior in APRA Connect.
- All entities will commence reporting entity information on APRA Connect from September 2020 while the timing of financial data reporting will vary for each industry. All financial data reporting for insurance and superannuation will continue to be reported through D2A. APRA will progressively start new collections for these industries on APRA Connect in line with industry consultations.
- APRA intends to move all reporting for authorized deposit-taking institutions and registered financial corporations from D2A to APRA Connect in the current format in March 2021. This means that the first monthly and quarterly returns (for the March period end) will be submitted in APRA Connect. No historical financial data will be migrated to APRA Connect and any re-submissions for D2A-submitted returns will need to be made through D2A.
- All entities who submit Form 701 for intermediated insurance business will be required to use APRA Connect. The first submission will be due on APRA Connect from January 2021.
- The first new collection to be introduced to APRA Connect after the September 2020 go live date will be the Private Health Insurance (PHI) Reform (HRS 605.0).
APRA notes that the outbreak of COVID-19 is creating considerable uncertainty and disruption across the Australian financial markets and economy. Therefore, APRA may need to revise these timelines in response to further developments to recognize the competing priorities of industry.
Related Links
Keywords: Asia Pacific, Australia, Banking, Insurance, Superannuation, Pensions, Reporting, D2A, APRA Connect, Data Collection Solution, APRA
Featured Experts

María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer

Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.

Scott Dietz
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
Previous Article
FED Releases Hypothetical Scenarios for Stress Test Exercise in 2020Related Articles
ISSB Sustainability Standards Expected to Become Global Baseline
The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.
IOSCO, BIS, and FSB to Intensify Focus on Decentralized Finance
Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.
BCBS Assesses NSFR and Large Exposures Rules in US
The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.
Global Agencies Focus on ESG Data, Climate Litigation and Nature Risks
At the global level, supervisory efforts are increasingly focused on addressing climate risks via better quality data and innovative use of technologies such as generative artificial intelligence (AI) and blockchain.
ISSB Standards Shine Spotlight on Comparability of ESG Disclosures
The finalization of the IFRS sustainability disclosure standards in late June 2023 has brought to the forefront the themes of the harmonization of sustainability disclosures
EBA Issues Several Regulatory and Reporting Updates for Banks
The European Banking Authority (EBA) recently issued several regulatory publications impacting the banking sector.
BCBS Proposes to Revise Core Principles for Banking Supervision
The Basel Committee on Banking Supervision (BCBS) launched a consultation on revisions to the core principles for effective banking supervision, with the comment period ending on October 06, 2023.
US Proposes Final Basel Rules, Transition Period to Start in July 2025
The U.S. banking agencies (FDIC, FED, and OCC) recently proposed rules implementing the final Basel III reforms, also known as the Basel III Endgame.
FSB Report Outlines Next Steps for Climate Risk Roadmap
The Financial Stability Board (FSB) recently published the second annual progress report on the July 2021 roadmap to address climate-related financial risks.
EBA Plans on Ad-hoc ESG Data Collection and Climate Scenario Exercise
The recognition of climate change as a systemic risk to the global economy has further intensified regulatory and supervisory focus on monitoring of the environmental, social, and governance (ESG) risks.