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ARTICLE · 18 JULY 2024

Recovery And Exit Planning – Is The Superannuation Industry Ready?

K&L Gates
K&L Gates
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From 1 January 2025, Prudential Standard CPS 190 (CPS 190) will come into effect for Registrable Superannuation Entity (RSE) licensees.

United StatesFinance and Banking
Claudine Salameh
Claudine Salameh
Tamsyn Sharpe
Tamsyn Sharpe

From 1 January 2025, Prudential Standard CPS 190 (CPS 190) will come into effect for Registrable Superannuation Entity (RSE) licensees. These entities will be required to have detailed recovery and exit plans to support the navigation of events which may threaten their financial viability. Following a recent review of the superannuation industry's preparedness for the commencement of CPS 190, the Australian Prudential Regulatory Authority (APRA) expressed the urgent need for RSE licensees to 'consider and develop more robust and effective' contingency plans.

How to prepare

To assist entities in the adoption of CPS 190, APRA has published a breakdown of the key components of an effective recovery and exit plan.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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