APRA (The Australian Prudential Regulatory Authority) released the reults of the first survey of its stake holders
Conducted by Australian Survey Research (ASR), the survey collected responses from two groups of stakeholders using a similar questionnaire: one of regulated institutions and a shorter one of industry representatives and other knowledgeable observers.
The overall survey results were, according to ASR, ‘… a strong endorsement of APRA’s prudential framework and approach to supervision. Regulated entities believe that APRA has had a positive impact on their industry.’
Click here for the results of the survey
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, 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. APRA currently supervises institutions holding approximately $3.4 trillion in assets for 21 million Australian depositors, policyholders and superannuation fund members.
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