Divide by three - APRA turns twelve prudential standards into four


Following its December 2010 consultation package, the Australian Prudential Regulation Authority (APRA) has released four prudential standards, intended to consolidate 12 existing standards across the authorised deposit-taking, general insurance and life insurance industries.

The consultation package included drafts of:

Prudential Standard CPS 510 Governance (CPS 510 Governance); Prudential Standard CPS 520 Fit and Proper (CPS 520 Fit and Proper); Prudential Standard CPS 231 Outsourcing (CPS 231 Outsourcing); and Prudential Standard CPS 232 Business Continuity Management (CPS 232 Business Continuity Management).

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