Regulatory AlertsCPS 230 Operational Risk Management
The Australian Prudential Regulation Authority issued Prudential Standard CPS 230 to require regulated entities to effectively manage operational risks and maintain critical operations through disruptions. The standard mandates robust governance, comprehensive risk assessments, and rigorous management of service provider arrangements to ensure organizational resilience. It revokes previous outsourcing and business continuity standards while introducing specific notification timelines and transitional provisions for non-significant financial institutions.
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