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APRA has written to banks, insurers and superannuation funds setting out its minimum expectations in relation to their readiness for geopolitical shocks.
APRA and the ASIC will streamline aspects of the Financial Accountability Regime to reduce regulatory burden without lowering accountability standards.
APRA has revoked Eric Insurance Limited’s (Eric’s) authorisation to carry on insurance business in Australia under the Insurance Act 1973, following a written request from Eric’s voluntary administrators, McGrathNicol.