The Australian Prudential Regulation Authority (APRA) is a statutory authority and the prudential regulator of the Australian financial services industry.
APRA oversees banks, credit unions, building societies, friendly societies, general insurance and reinsurance companies, life insurance and most members of the superannuation industry. It was established on 1 July 1998. APRA is funded largely by the industries that it supervises. APRA currently...
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The Australian Prudential Regulation Authority (APRA) is a statutory authority and the prudential regulator of the Australian financial services industry.
APRA oversees banks, credit unions, building societies, friendly societies, general insurance and reinsurance companies, life insurance and most members of the superannuation industry. It was established on 1 July 1998. APRA is funded largely by the industries that it supervises. APRA currently supervises institutions holding A$4 trillion in assets for almost 23 million Australian depositors, policyholders and superannuation fund members.
It regulates banks, general and life insurance companies, superannuation funds, credit unions, building societies and friendly societies to ensure that these institutions keep their financial promises; that is, that they will remain financially sound and able to meet their obligations to depositors, fund members and policyholders.
In June 1996, the Financial System Inquiry (known as the Wallis...
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