APRA unveils digital Prudential Handbook

APRA has launched its new digital Prudential Handbook, geared toward modernising and simplifying regulatory compliance for monetary entities.

Modernising prudential requirements

APRA’s new digital Prudential Handbook consolidates all prudential requirements, steering, and supporting info right into a single, simply navigable digital format.

This transfer is a part of APRA’s strategic initiative to modernise the prudential structure (MPA), making the framework less complicated, clearer, and extra adaptable.

“The last word purpose we’ve got been working in the direction of is a digital framework that will likely be simpler for the trade to know and adjust to, and for APRA to oversee and preserve – and in the end to higher shield Australians’ monetary pursuits,” stated APRA Chair John Lonsdale (pictured above), in a letter to APRA-regulated entities.

Key options of the Prudential Handbook

The Prudential Handbook incorporates a number of key options:

• Higher regulation: Enhancing the design of the framework by structuring it in clear pillars, and rationalising and consolidating requirements and steering the place possible.
• Digital-first method: Utilising expertise to facilitate simpler entry and administration of requirements, steering, and coverage info.
• New dangers, new guidelines: Growing APRA’s method to rising threat areas in a cohesive and built-in method with present requirements.

Facilitating trade adaptation

APRA plans for the handbook to run in parallel with the present APRA web site for a number of months to make sure a easy transition for regulated entities.

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