Regulatory AlertsHPG 520 Fit and Proper
The Australian Prudential Regulation Authority issued this guide to assist private health insurers in complying with Prudential Standard CPS 520 regarding the fitness and propriety of responsible persons. It outlines requirements for developing Fit and Proper Policies, defining responsible persons, and applying specific criteria to assess character, competence, and integrity. The document details assessment processes, legal considerations, and APRA's enforcement powers to ensure only suitable individuals hold key positions.
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