WebThe authorised deposit-taking institutions (ADIs) listed at the bottom of this page are all covered under the Financial Claims Scheme (the FCS). The FCS protects money held by an account-holder with an ADI, whether in one or more protected accounts, up to a total … In the case of superannuation, an ADI deposit account held by the trustee of a … On 4 May 2024, APRA created a restricted ADI (RADI) framework to assist potential new entrants to the banking industry, particularly small firms with limited financial resources, to navigate the licensing process. Eligible entities can conduct a limited range of business activities for two years. On 7 May 2024, APRA issued the first RADI to Volt Bank.
Reporting Standard ARS 320.0 (2003) - Legislation
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Banking Executive Accountability Regime BEAR legislation …
WebAPRA can issue such directions where, for example, the ADI is in distress or financial system stability is at risk. However, APRA cannot appoint a statutory manager to the Australian business of a foreign ADI or invoke compulsory or voluntary transfer of business powers which are available to it in relation to locally incorporated ADIs. Webresponsibility in relation to risk for the ADI and general insurer within the same group. End-to-end product responsibility In July 2024, APRA released a consultation letter outlining its approach to implementing an end-to-end product responsibility under the BEAR as per recommendation 1.17 of the Royal Commission. Web9 rows · apra Provide a wide range of financial services to all sectors of the economy, including (through subsidiaries) funds management and insurance services. Foreign … half the earth\u0027s surface