International Law

APRA superannuation prudential practice guides

By David Jacobson

The Australian Prudential Regulation Authority (APRA) has released prudential practice guides (PPGs) for superannuation trustees in the areas of capital, risk management, adequacy of resources and fitness and propriety.

The PPGs are intended to assist registrable superannuation entity (RSE) licensees to satisfy licence conditions and operating standards under the Superannuation Industry (Supervision) Act 1993 (SIS Act) and the relevant SIS Regulations.

The practices outlined in the four PPGs are not affected by the recommendations of the Super System Review Panel (’Cooper Review’) that were released on 5 July 2010.

Draft prudential practice guides on management of conflicts and reserving practices that were also issued for consultation in 2009 will be further reviewed subject to any Government response to the Cooper Review’s recommendations on these subjects.

Full post as published by Australian Regulatory Compliance Review on August 11, 2010 (boomark / email).