What is the meaning of APRA?
What is the meaning of APRA?
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 does APRA do in Australia?
The role of APRA The Australian Prudential Regulation Authority (APRA) is Australia’s financial system prudential regulator. It is responsible for promoting the prudent management of regulated institutions so that they can meet their financial obligations under all reasonable circumstances.
What is the purpose of APRA?
Taking this legislation together, APRA’s primary objective is to protect depositors, insurance policyholders and superannuation fund members through promoting the prudent management of regulated institutions in each industry, and the promotion of financial stability more broadly.
Is APRA a word?
Definition of APRA in the English dictionary The definition of APRA in the dictionary is Australian Prudential Regulatory Authority. Other definition of APRA is Australasian Performing Right Association.
Where is APRA based?
The Australian Prudential Regulation Authority (APRA) is a statutory authority of the Australian Government and the prudential regulator of the Australian financial services industry….Australian Prudential Regulation Authority.
| Statutory authority overview | |
|---|---|
| Jurisdiction | Commonwealth of Australia |
| Headquarters | Sydney, New South Wales |
| Employees | 586 (2017–2018) |
What is an APRA or RSA?
If you’ve got an account with a retail or industry super fund, you should put an X in the first box where it says ‘The APRA fund or retirement savings account (RSA)’. All superannuation funds are regulated under APRA, and therefore called an ‘APRA fund’. RSAs are grouped together with APRA funds on this form.
What power does APRA have?
APRA licenses banking, insurance and superannuation businesses to operate and supervises them to ensure that under all reasonable circumstances, the financial promises made to their beneficiaries (i.e. depositors, policyholders and superannuation fund members) are kept.
What is an APRA account?
APRA regulated fund types The Australian Prudential Regulation Authority (APRA) supervises regulated superannuation funds (other than SMSFs), Approved Deposit Funds and Pooled Superannuation Trusts, all of which are regulated under the Superannuation Industry (Supervision) Act 1993.
Who is regulated by APRA?
APRA oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurers, private health insurers, friendly societies, and a large part of the superannuation industry.
How do you spell APRA?
Apra Definition & Meaning | Dictionary.com.
What does APRA stand for music?
Australasian Performing Right Association Limited
APRA AMCOS then distributes the licence fees to its 108,000+ songwriter, composer and music publisher members and affiliated societies worldwide. APRA AMCOS is the trading name of Australasian Performing Right Association Limited (APRA) and Australasian Mechanical Copyright Owners Society (AMCOS).
Who is the leader of APRA?
Wayne Byres
The current chair of APRA is Wayne Byres. Helen Rowell and John Lonsdale are Deputy Chairs.