THE CHAIR of the Australian Prudential Regulation Authority (APRA) Capability Review Panel, Professor Graeme Samuel AC, will appear before the House Economics Committee at a public hearing on Wednesday, September 11, 2019, as part of the committee’s review of the performance and operation of Australia’s banking, insurance and superannuation regulator.
The Capability Review was commissioned by Treasurer Josh Frydenberg in response to the findings of the Hayne Royal Commission. The report of the Capability Review was released in July 2019 and the Panel made 24 recommendations, with 19 directed to APRA and five to the government.
Chair, Tim Wilson MP, said, "The Capability Review Panel identified APRA’s internal culture and regulatory approach needed improvement, and that it had to establish an additional focus on superannuation, while recognising that it was an impressive and forceful regulator in relation to traditional financial risks."
Mr Wilson said, "The hearing will allow the committee to question Professor Samuel on the panel’s assessment of APRA’s capability to deliver upon its statutory mandate and respond to an environment of growing complexity and emerging risks for APRA’s regulated sectors."
Public hearing details
Date: Wednesday, 11 September 2019
Time: 11.05am to 12.05pm
Location: Committee Room 2R1, Parliament House, Canberra
The hearing will be broadcast live at aph.gov.au/live.