Australian Prudential Regulation Authority

Read more about the article APRA and ASIC issue final rules and further guidance for the Financial Accountability Regime

APRA and ASIC issue final rules and further guidance for the Financial Accountability Regime

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The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have released final rules and further guidance to support the financial services industry in implementing the Financial Accountability Regime (FAR).  The FAR, which replaces the Banking Executive Accountability Regime (BEAR), imposes a stronger responsibility and accountability framework for APRA-regulated entities in

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Read more about the article APRA revokes Islamic Bank’s restricted banking licence

APRA revokes Islamic Bank’s restricted banking licence

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The Australian Prudential Regulation Authority (APRA) has agreed to a request from Islamic Bank Australia Pty Ltd (Islamic Bank) to revoke its licence to operate as a restricted authorised deposit-taking institution (ADI). APRA granted Islamic Bank (then operating as IBA Group Pty Ltd) a licence to operate as a restricted ADI under the Banking Act

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