APRA issues new set of FAQs on the outcomes assessment under s. 52(9) of the SIS Act
The Australian Prudential Regulation Authority (APRA) has published two new frequently asked questions (FAQs) and five updated FAQs on the outcomes assessment under s. 52(9) of the Superannuation Industry (Supervision) Act 1993 (SIS Act).
The new and updated FAQs released today set out APRA’s expectation for registrable superannuation entity (RSE) licensees to align their outcomes assessment and business performance review cycle. The appropriate alignment of the cycle is intended to ensure that an RSE licensee is using up-to-date assessments and optimising value from the process.
The FAQs are available on the APRA website at: Outcomes assessment under s. 52(9) of the Superannuation Industry (Supervision) Act 1993 - frequently asked questions.
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.