APRA revokes foreign ADI licence for Investec Bank Plc
The Australian Prudential Regulation Authority (APRA) has revoked the licence for Investec Bank plc (Investec) to operate as a foreign authorised deposit-taking institution (Foreign-ADI) under the Banking Act 1959. The decision was made at Investec’s request.
An updated list of all APRA-authorised ADIs can be found on the APRA website here.
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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.