The Australian Prudential Regulation Authority has published its Statement of Intent in response to the Government’s Statement of Expectations, setting out how it will meet the Government’s expectations across its role, policy priorities, regulatory approach, stakeholder engagement and organisational matters. The statement centers on a risk-based and proportionate prudential approach that balances financial safety and stability with efficiency, competition and innovation, while reaffirming APRA’s independence in its regulatory, supervisory and enforcement functions. APRA says it will keep the resilience of the banking, insurance and superannuation sectors at the core of its work, continue to hold entities to account for governance and risk management failures that could cause significant harm, and use formal enforcement powers where appropriate. It also commits to continued work on superannuation transparency and efficiency, limiting member exposure to underperforming or sub-standard funds, strengthening cyber resilience for regulated entities and APRA’s own systems, monitoring the responsible use of artificial intelligence, supporting data-informed work on insurance affordability and availability, promoting prudent practices on climate-related risks, and engaging with the Government, Treasury and the Council of Financial Regulators on reforms to modernise the payments regulatory framework. On process, APRA says it will tailor oversight to the risks and business models of different entities, streamline data and information requests, publish key performance indicators on reducing undue industry burden, maintain a transparent review program for prudential standards, and give greater visibility of upcoming initiatives through the Regulatory Initiatives Grid. The Government’s expectations also provide that the Statement of Expectations and Statement of Intent are to be incorporated into APRA’s Corporate Plan, with implementation reported publicly through APRA’s Annual Performance Statement.
Australian Prudential Regulation Authority2026-07-16
Australian Prudential Regulation Authority publishes Statement of Intent, commits to proportionate supervision and focus on cyber AI and superannuation outcomes
APRA has published its Statement of Intent in response to the Government’s Statement of Expectations. It commits to risk-based, proportionate prudential regulation, continued focus on banking, insurance and superannuation resilience, and further work on cyber, artificial intelligence, climate and member outcomes. APRA also says it will streamline regulatory demands, publish metrics on reducing burden and provide more visibility on upcoming initiatives through the Regulatory Initiatives Grid.