The Australian Prudential Regulation Authority (APRA) has finalised a new prudential standard aimed at ensuring banks, insurers and superannuation trustees can better manage operational risks and respond to business disruptions. Prudential Standard CPS 230 Operational Risk Management (CPS 230) provides a foundation for APRA-regulated entities to: strengthen operational risk management through new requirements to address identified weaknesses in existing controls; improve business continuity planning to ensure they are positioned to respond to severe disruptions; and enhance third-party risk management by ensuring risks from material service providers are appropriately managed.

https://www.miragenews.com/apra-finalizes-new-prudential-standard-on-1047727/

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