APRA releases letter on the revocation of superannuation standards
The Australian Prudential Regulation Authority (APRA) has issued a letter to all registrable superannuation entity (RSE) licensees on the revocation of superannuation standards.
The letter released today follows APRA’s Response Paper to consultation on Superannuation Data Transformation (SDT) Phase 2, which was released on 29 August 2022. The paper outlined the next steps for pre-SDT reporting standards that overlap with Phase 1 reporting standards to reduce duplicate reporting from industry.
The letter is available on the APRA website at: Revocation of superannuation standards.
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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.