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Showing 11 - 20 of 53 results for "CPS 230"

Trustees to disclose more remuneration details

KARREN VERGARA  |  WEDNESDAY, 2 AUG 2023
APRA will force superannuation funds to provide more details into how they pay executives, particularly wanting deeper insight into how variable remuneration is rewarded. The prudential regulator has updated Prudential Standard CPS 511 Remuneration ...

Industry grapples with looming cyber threats

CHLOE WALKER  |  THURSDAY, 27 JUL 2023
With the threat of cyber-attacks growing by the day, leadership teams in all areas of financial services are being urged to ramp up cybersecurity protections, with the regulators keeping a keen eye on their efforts. But while major institutions might ...

APRA finalises operational risk prudential standard

ANDREW MCKEAN  |  TUESDAY, 18 JUL 2023
APRA has finalised Prudential Standard CPS 230 Operational Risk Management, which aims to enhance the ability of banks, insurers, and superannuation trustees to manage operational risks and respond to business disruptions. According to QMV legal, the ...

Institutions must raise the bar on cybersecurity resilience: APRA

CASSANDRA BALDINI  |  THURSDAY, 6 JUL 2023
Insights from APRA expose a lack of compliance with cybersecurity obligations is leaving hundreds of institutions open to financial crime. The regulator plans to have assessed more than 300 banks, insurers and super trustees' compliance with CPS 234 ...

APRA finalises rules for financial crisis readiness

ANDREW MCKEAN  |  FRIDAY, 19 MAY 2023
Finalising new prudential standards, APRA is aiming to bolster banks, insurers, and superannuation trustees' resilience against future financial crises. APRA hopes the new standards will equip these financial entities with strategies to counteract threats ...

APRA defers CPS 230 introduction

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
APRA is pushing back the implementation of its new operational risk management standard following industry feedback. Prudential Standard CPS 230 Operational Risk Management (CPS 230) was initially intended to take effect 1 January 2024 but will now ...

NGS Super suffers cyber-attack

JAMIE WILLIAMSON  |  MONDAY, 27 MAR 2023
Some NGS Super members have had their private data compromised in an attack on the fund's systems. The fund was the victim of a cyber-attack on Friday, March 17 during which some of its systems were accessed. The fund said they were only accessed ...

Regulators sound alarm on cybersecurity, fraud in super

ANDREW MCKEAN  |  FRIDAY, 24 FEB 2023
At the annual Association of Superannuation Funds of Australia conference, financial services regulators detailed their top priorities, including cybersecurity threats and fraud in the super industry. At the ASFA conference, financial services regulators ...

Fraudsters jailed over international crypto scam

JAMIE WILLIAMSON  |  WEDNESDAY, 18 JAN 2023
Four people have been jailed in the UK over a $37 million fraud carried out on an Australian cryptocurrency exchange five years ago. The UK's Crime Prosecution Service (CPS) said Stephen William Boys, Kelly Caton, Jordan Kane Robinson and James Austin-Beddoes ...

APRA urges entities to strengthen risk management

CASSANDRA BALDINI  |  FRIDAY, 25 NOV 2022
APRA general manager of governance, culture, remuneration and accountability Stuart Bingham said a strong risk culture is essential for effective risk management outcomes. In a speech, delivered at the Financial Services Assurance Forum, Bingham discussed ...