APRA Updates Superannuation Data Transformation FAQs: 4 New, 1 Updated, and 18 Archived

Finance

Article: The Australian Prudential Regulation Authority (APRA) has released new updates to its frequently asked questions (FAQs) for the Superannuation Data Transformation (SDT) project. The update includes four new FAQs, one updated FAQ, and the archiving of 18 previously published FAQs.

APRA is the prudential regulator of the financial services industry in Australia, overseeing banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. With around $9 trillion in assets under its supervision for Australian depositors, policyholders, and superannuation fund members, APRA plays a crucial role in maintaining the stability and integrity of the financial system.

The SDT FAQs provide important information for financial institutions and superannuation funds on the reporting requirements and data standards that are being introduced as part of the SDT project. The updated FAQs are available on the APRA website, and financial institutions are encouraged to review them to ensure compliance with the new requirements. For further information, contact the APRA Media Unit or the APRA hotline.

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