SYDNEY, Oct. 24 -- Australian Prudential Regulation Authority issued the following media release:
The Australian Prudential Regulation Authority (APRA) has provided an update on its consultation to modernise the prudential framework on governance for banks, insurers and superannuation trustees.
In March, APRA proposed eight measures to update its cross-industry prudential standards and guidance on governance for the first time in more than a decade.
During the three-month consultation period, APRA held 57 meetings and roundtables involving over 150 stakeholder organisations and received almost 80 written submissions. Through these engagements, APRA received broad support for the package overall, especially for initiatives that can reduce...