Question: Who Does APRA Report To?

What is the role of the APRA?

The Australian Prudential Regulation Authority (APRA) is Australia’s financial system prudential regulator.

APRA is responsible for the licensing and regulatory oversight of financial entities to protect the interests of depositors, insurance policyholders and superannuation fund members..

Who governs the banks in Australia?

ASICASIC regulates banks and financial service providers, sets and enforces banking standards and investigates and acts against misconduct in the banking sector.

Is APRA a government body?

APRA is the government body that oversees the financial industry, making sure it’s healthy and well managed.

What are APRA regulated entities?

The Australian Prudential Regulation Authority (APRA) is an independent statutory authority that supervises institutions across banking, insurance and superannuation and promotes financial system stability in Australia.

What services does APRA offer?

APRA, which formed in 1926, represents songwriters, composers, and music publishers, providing businesses with a range of licences to use copyrighted music. This covers music that is communicated or performed publicly including on radio, television, online, live gigs in pubs and clubs etc.

What is the difference between ASIC and APRA?

APRA supervises banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurance, friendly societies and most of the superannuation industry. … ASIC is also responsible for licensing and authorisations to operate in industries it regulates.