The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry in Australia. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA is funded largely by the industries that it supervises. It was established on 1 July 1998.
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Provides a comprehensive regulatory framework for the financial services industry in Australia.
Offers supervision and monitoring of financial institutions to ensure they meet their financial promises.
Engages in the development of prudential policy and practice standards for the financial industry.
Responsible for the licensing of financial institutions under its jurisdiction.
Enforces compliance with the financial services laws and regulations.
Collects and analyzes data from financial institutions to monitor the health of the financial system.
Conducts risk assessments of financial institutions to identify potential threats to the financial system.
Works to protect the interests of depositors, policyholders, and superannuation fund members.
Cooperates with international regulatory bodies to ensure global financial stability.
Publishes research, reports, and statistics on the financial services industry.
Sydney, New South Wales, Australia
Australia
Wayne Byres (Chairman)
Australian Government
http://www.apra.gov.au
APRA can be contacted through their website or by phone at +61 2 9210 3000.
APRA maintains a presence on LinkedIn for professional networking and updates.
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