1 August 2023 - APRA finalises requirements for remuneration disclosure

The Australian Prudential Regulation Authority (APRA) has finalised new requirements for authorised deposit-taking institutions (ADIs), insurers and superannuation entities to publicly disclose information on aspects of their remuneration.

Under the updates to Prudential Standard CPS 511 Remuneration, APRA-regulated entities will need to annually publish information on their remuneration frameworks, design, governance and outcomes. Larger and more complex entities must disclose additional quantitative information, including on payments to top executives and how they have placed a material weight on non-financial measures such as risk management.

APRA Chair John Lonsdale said the changes would enhance transparency and market discipline within the financial services industry and shine a light on the impact of risk failures and bad behaviour on remuneration outcomes.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.