In this article, we aim to improve your understanding of APRA’s proposed CPS 230 Operational Risk Management and the journey of risk maturity that Boards and Management will need to take to enhance operational resilience and value.
APRA’s proposed reforms to the Authorised Deposit-taking Institution (ADI) licensing framework represent a significant modernisation of the process for establishing a banking business in Australia.
APRA’s first consultation paper on proposed governance changes explained the policy driver: entities under heightened supervision often have governance issues, and APRA identified persistent weaknesses in skills, fitness and propriety, board reviews, tenure and conflicts management.
AmTrust Specialty Limited (ASL), a UK-regulated specialty lines insurer, successfully obtained authorisation from the Australian Prudential Regulation Authority (APRA) to operate as a Category C general insurer (foreign branch) in Australia.
The Reserve Bank of New Zealand has published for consultation a draft amendment to the Insurance (Prudential Supervision) Act 2010.
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