The Australian Prudential Regulation Authority (APRA) has released for consultation proposed amendments to Prudential Standard SPS 114 operational risk financial requirement and its associated guidance.
The consultation, which follows APRA’s November 2022 Discussion Paper – Financial resources for risk events in superannuation, is open for submissions for three months until 13 May 2024.
The consultation letter, draft prudential standard and guidance can be found at: Strengthening Financial Resilience in Superannuation.
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