Regulatory AlertsCPS 510 Governance
The Australian Prudential Regulation Authority issued Prudential Standard CPS 510 to mandate sound governance frameworks and high integrity for all APRA-regulated institutions and group heads. The standard requires entities to maintain competent boards with independent chairs, specific committee structures, and rigorous performance assessment and renewal procedures. These obligations apply to deposit-taking, insurance, and private health entities, with specific provisions for foreign institutions and group-level oversight commencing on 1 January 2024.
Share