Contents
What SPS 231?
SPS 231 requires an RSE licensee to address any subcontracting in the outsourcing agreement with a service provider. The agreement would typically include specific rules on, or limitations to, such arrangements (e.g. notification to the RSE licensee prior to entering into a subcontracting arrangement).
What is a material business activity?
‘Material business activity’ is defined as an activity that ‘has the potential, if disrupted, to have a significant impact on the regulated institution’s business operations or its ability to manage risks effectively’.
What is material outsourcing APRA?
‘Outsourcing’ involves an APRA-regulated institution, or an institution within a group that is not an APRA-regulated institution, entering into an arrangement with another party (including a related body corporate) to perform, on a continuing basis, a business activity that currently is, or could be, undertaken by the …
What does SPS stand for APRA?
SRS 330.0 Statement of Financial Performance. This Reporting Standard sets out the requirements for the provision of information to APRA relating to the financial performance of a registrable superannuation entity. It includes Form SRF 330.0 Statement of Financial Performance and associated specific instructions.
What is CPG 235?
The purpose of CPG 235 is to assist regulated entities within Australia managing data risk. It is designed to guide senior management, risk management and technical specialists (both management and operational). CPG 235 follows on from the principles that were laid down in BCBS 239.
What is CPS APRA?
The Australian Prudential Regulation Authority (APRA) has recognised the threat as we enter the new digital age and defined and implemented a new Prudential Standard CPS 234 (CPS 234). The purpose of CPS 234 is to ensure that APRA-regulated entities have implemented sufficient information security protections.
What does CPS 234 stand for?
CPS 234 is a mandatory regulation issued by the Australian Prudential Regulatory Authority (APRA) and commences on 1st of July 2019. It requires organisation to uplift their information security capabilities commensurate with the evolving size and extent of the threats to their assets.
Who is regulated by APRA?
APRA supervises banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurance, friendly societies and most of the superannuation industry.
What SPS 220?
SPS 220 RIsk Management. This Prudential Standard establishes requirements for an RSE licensee to have systems for identifying, assessing, managing, mitigating and monitoring material risks that may affect its ability to meet its obligations to beneficiaries.
What does BCBS 239 stand for?
Basel Committee on Banking Supervision
BCBS 239 is the Basel Committee on Banking Supervision’s standard number 239. The overall objective of the standard is to strengthen banks’ risk data aggregation capabilities and internal risk reporting practices, in turn, enhancing the risk management and decision making processes at banks.
What is cps220?
CPS 220 requires an APRA-regulated institution to formulate, maintain and give effect to a risk management strategy that provides an overview of how the risk management framework addresses each material risk for the institution, with reference to the relevant policies, standards and procedures.
When was CPS 220 introduced?
1 July 2017
CPS 220 – 3 This Prudential Standard commences on 1 July 2017.