ARTICLE · 18 FEBRUARY 2019

Australian Prudential Regulation Authority (APRA) response to Financial Services Royal Commission

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APRA has announced its plans in relation to specific recommendations in the Banking Royal Commission's Final Report.

AustraliaFinance and Banking

The Australian Prudential Regulation Authority (APRA) has announced its plans in relation to specific recommendations relating to it contained in the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

The Royal Commission made 10 recommendations requiring APRA to strengthen its prudential and supervisory framework. Of the 10, APRA expects that four will be completed in 2019, and a further five will be completed by the end of 2020. See the APRA Response table.

Royal Commission Referrals
APRA is examining each of the 12 matters in relation to individual entities that have been referred to it by the Royal Commission. APRA says this work is already underway and APRA will liaise with ASIC and other relevant agencies to address promptly the matters identified.

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