APRA consolidated standards for ADIs and insurers

The Australian Prudential Regulation Authority (APRA) has released in final form four prudential standards – on governance, fitness and propriety, outsourcing and business continuity management – that will consolidate and replace 12 existing standards across the authorised deposit-taking (ADI), general insurance and life insurance industries, from 1 July 2012: Authorised deposit-taking institutions General insurers Life companies The goal of harmonisation is simplified compliance, particularly for groups that operate across regulated industries.

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