The Australian Prudential Regulation Authority (APRA) has released for consultation its proposed revisions to Prudential Standard SPS 530 Investment Governance (SPS 530).
SPS 530 aims to ensure registrable superannuation entity licensees meet their obligations to prudently select, manage and monitor investments.
The proposed revisions to SPS 530 respond to findings from APRA’s unlisted asset valuation thematic review and APRA’s 2018-2019 post-implementation review (PIR) of the superannuation prudential framework. The updates focus on enhancements to stress testing, valuation and liquidity management practices. The consultation will run until 16 February 2022.
A letter outlining the proposed revisions and a draft version of the updated prudential standard are available on the APRA website at: Consultation on Prudential Standard SPS 530 Investment Governance in Superannuation.