2 June 2023 - APRA publishes Chair John Lonsdale’s Opening Statement to the House of Representatives Standing Committee on Economics

The Australian Prudential Regulation Authority (APRA) has published Chair John Lonsdale’s Opening Statement to the House of Representatives Standing Committee on Economics.

Key policy priorities include:

  • completing key reforms to strengthen the financial and operational resilience of APRA-regulated entities, including in areas such as operational risk management and remuneration;
  • continuing focus on transparency and efficiency in superannuation, with the annual performance test (which this year will incorporate hundreds more products compared with last year), alongside longer-term consideration of retirement income frameworks, with ASIC;
  • progressing APRA’s plan to modernise the prudential architecture, a core strategic initiative designed to make the framework clearer, simpler and more adaptable; and
  • reviewing core standards, including governance and the regulation of conglomerate groups.

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