12 July 2024 - ASIC and APRA issue final rules and information for the Financial Accountability Regime

The Australian Securities and Investments Commission and the Australian Prudential Regulation Authority have published new information to help insurers and superannuation trustees prepare for the commencement of the Financial Accountability Regime.

The FAR already applies to the banking industry, and takes effect for the insurance and superannuation industries from 15 March 2025. It imposes a strengthened responsibility and accountability framework to improve the risk governance cultures of APRA-regulated entities, their directors and most senior executives.

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