The Australian Prudential Regulation Authority (APRA) has determined nine updated reporting standards following APRA’s proposed minor amendments to these standards under Phase 1 of the Superannuation Data Transformation (SDT) project.
The reporting standards released today include amendments that clarify investment option reporting and expenses reporting; reduce frequency of reporting for some requirements; and increase the time for submission of data for some requirements.
The reporting standards have also been amended to incorporate clarifications made by APRA through its Frequently Asked Questions.
APRA’s SDT project aims to improve transparency to achieve better industry practices and improve member outcomes.
The determined reporting standards are available on the APRA website at: Consultation on APRA’s Superannuation Data Transformation – Phase 1 Breadth.
