Via Banking Day:
APRA fronted the Senate Economics Legislation Committee – better known as the Senate estimates committee – yesterday and covered a grab-bag of topics, with the overarching theme that this year will be a much tougher brand of regulation.
APRA and ASIC will need to be tougher, in order to justify a raft of new powers. But the prudential regulator’s chairman Wayne Byres, while acknowledging the potential change in APRA’s culture, was clear that the fundamentals of its role will not change.
