Australian Prudential Regulation Authority
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The Australian Prudential Regulation Authority (APRA) is the Australian regulator of banks, credit unions, building societies, insurance companies, friendly societies and superannuation funds. It is an independent statutory authority of the Commonwealth Government established under the Australian Prudential Regulation Authority Act 1998. The current chairman of APRA is Dr John Laker and the deputy chairman is Ross Jones.
APRA became prominent in the collapse of HIH in 2001 and the National Australia Bank foreign currency deal scandal in 2004.
External links
- Official site (http://www.apra.gov.au)