APRA and ASIC publish annual update on joint engagement
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have published their first annual update on engagement between the two regulators.
The update fulfils the agencies’ obligation under their 2019 Memorandum of Understanding to report annually on their engagement activities.
The statement is available on the APRA website at: 2020 update on APRA-ASIC engagement.
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.