Standards and practice guides

Governance

Governance standards require entities to act with honesty and integrity and to be run by people with the right skills, knowledge and experience. They include foundational requirements for good governance and the fitness and propriety of people in positions of responsibility.

Board

Prudential standard

SPS 510 Governance
Current
30 June 2024
SPS 510 Governance requires RSE licensees to maintain governance frameworks in line with their size, business mix and complexity.

Prudential practice guide

SPG 510 Governance
Current
1 January 2024
SPG 510 Governance provides guidance to RSE licensees on SPS 510 Governance.

Accountability

Prudential standard

SPS 520 Fit and Proper
Current
30 June 2024
SPS 520 Fit and Proper requires RSE licensees to determine the fitness and propriety of individuals in positions of responsibility.

Prudential practice guide

SPG 520 Fit and Proper
Current
30 June 2024
SPG 520 Fit and Proper provides guidance for RSE licensees on SPS 520 Fit and Proper.

Prudential standard

SPS 521 Conflicts of Interest
Current
1 July 2013
SPS 521 Conflicts of Interest requires RSE licensees to have a conflicts management framework.

Prudential practice guide

SPG 521 Conflicts of Interest
Current
1 July 2013
SPG 521 Conflicts of Interest provides guidance for RSE licensees on SPS 521 Conflicts of Interest.

Remuneration

Prudential standard

CPS 511 Remuneration
Current
1 January 2024
CPS 511 Remuneration requires entities to maintain a remuneration framework that meets prescribed objectives.

Prudential practice guide

CPG 511 Remuneration
Current
18 October 2021
CPG 511 Renumeration provides guidance to all entities on CPS 511 Renumeration.

Audit

Prudential standard

SPS 310 Audit and Related Matters
Current
30 June 2024
SPS 310 Audit and Related Matters requires RSE licensees to appoint an auditor to provide independent advice.

Risk Management

Risk Management standards require entities to maintain effective risk management strategies and systems. They include requirements such as managing operational risk and risks specific to an industry.

Risk Management

Prudential standard

SPS 220 Risk Management
Current
1 January 2020
SPS 220 Risk Management requires RSE licensees to maintain a risk management framework.

Prudential practice guide

SPG 220 Risk Management
Current
1 July 2013
SPG 220 Risk Management provides guidance for RSE licensees on SPS 220 Risk Management.

Prudential practice guide

CPG 229 Climate Change Financial Risks
Current
26 November 2021
CPG 229 Climate Change Financial Risks provides guidance for all entities on their core risk management and governance requirements.

Operational Risk

Prudential practice guide

SPG 223 Fraud Risk Management
Current
1 June 2015
SPG 223 Fraud Risk Management provides guidance to RSE licensees on their core risk management requirements.

Prudential practice guide

CPG 230 Operational Risk Management
Current
13 June 2024
CPG 230 Operational Risk Management assists entities with the implementation of, and compliance with, CPS 230

Prudential practice guide

SPG 114 Operational Risk Financial Requirement
Final not yet in force
1 July 2025
SPG 114 Operational Risk Financial Requirement provides guidance for RSE licensees on SPS 114 Operational Risk Financial Requirement

Prudential standard

SPS 231 Outsourcing
Current
1 July 2013 – 30 June 2025
SPS 231 Outsourcing requires RSE licensees to manage risks from outsourced business activities.

Prudential practice guide

SPG 231 Outsourcing
Current
1 July 2013
SPG 231 Outsourcing provides guidance for RSE licensees on SPS 231 Outsourcing.

Prudential standard

SPS 232 Business Continuity Management
Current
1 July 2013 – 30 June 2025
SPS 232 Business Continuity Management requires RSE licensees to plan for business disruptions.

Prudential practice guide

SPG 232 Business Continuity Management
Current
1 July 2013
SPG 232 Business Continuity Management provides guidance for RSE licensees on SPS 232 Business Continuity Management.

Prudential practice guide

CPG 233 Pandemic Planning
Current
1 May 2013
CPG 233 Pandemic Planning provides guidance for all entities on their core risk management requirements.

Prudential standard

CPS 234 Information Security
Current
1 July 2019
CPS 234 Information Security requires entities to maintain information security capability.

Prudential practice guide

CPG 234 Information Security
Current
1 June 2019
CPG 234 Information Security provides guidance to all entities on CPS 234 Information Security.

Prudential practice guide

CPG 235 Managing Data Risk
Current
1 September 2013
CPG 235 Managing Data Risk provides guidance for all entities on their core risk management requirements.

Market Risk

Business Operations

Business Operations standards require RSE licensees to manage their business operations to achieve the outcomes they seek for members. They include requirements for strategic planning, investment governance, operational risk resourcing and insurance.

Business Operations

Prudential standard

SPS 515 Strategic Planning and Member Outcomes
Current
1 January 2020
SPS 515 Strategic Planning and Member Outcomes requires RSE licensees to align Business Operations with its strategic objectives and member outcomes.

Prudential practice guide

SPG 515 Strategic and Business Planning
Current
1 January 2020
SPG 515 Strategic and Business Planning provides guidance for RSE licensees on SPS 515 Strategic Planning and Member Outcomes.

Prudential practice guide

SPG 515 Strategic Planning and Member Outcomes
Final not yet in force
1 July 2025
Prudential Practice Guide SPG 515 Strategic Planning and Member Outcomes provides APRA’s view of sound practice in strategic and business planning, financial resource management, implementation of the retirement income covenant and fund transfers, to ensure members’ interests are front-and-centre of trustees’ business operations.

Prudential practice guide

SPG 516 Business Performance Review
Current
1 January 2020
SPG 516 Business Performance Review provides guidance for RSE licensees on SPS 515 Strategic Planning and Member Outcomes.

Prudential standard

SPS 515 Strategic Planning and Member Outcomes
Final not yet in force
1 July 2025
SPS 515 Strategic Planning and Member Outcomes requires RSE licensees to align Business Operations with their strategic objectives and member outcomes.

Prudential practice guide

SPG 114 Operational Risk Financial Requirement
Final not yet in force
1 July 2025
SPG 114 Operational Risk Financial Requirement provides guidance for RSE licensees on SPS 114 Operational Risk Financial Requirement

Prudential standard

SPS 114 Operational Risk Financial Requirement
Final not yet in force
1 July 2025
SPS 114 Operational Risk Financial Requirement requires RSE licensees to maintain, manage and utilise financial resources to protect beneficiaries from losses due to operational risks.

Prudential standard

SPS 160 Defined Benefit Matters
Current
1 July 2013
SPS 160 Defined Benefit Matters requires RSE licensees of defined benefit funds to ensure fund assets can meet fund liabilities when they are due.

Prudential practice guide

SPG 160 Defined Benefit Matters
Current
1 November 2013
SPG 160 Defined Benefit Matters provides guidance to RSE Licensees on SPS 160 Defined Benefit Matters.

Prudential standard

SPS 250 Insurance in Superannuation
Current
1 July 2022
SPS 250 Insurance in Superannuation requires RSE licensees to have an insurance management framework.

Prudential practice guide

SPG 250 Insurance in Superannuation
Current
1 November 2021
SPG 250 Insurance in Superannuation provides guidance for RSE Licensees on SPS 250 Insurance in Superannuation and SPS 160 Defined Benefit Matters.

Prudential practice guide

SPG 280 Payment Standards
Current
1 June 2017
SPG 280 Payment Standards provides guidance for RSE licensees on the SIS Act, SIS Regulations and other requirements.

Prudential standard

SPS 530 Investment Governance
Current
1 January 2023
SPS 530 Investment Governance requires RSE licensees to have an investment governance framework.

Prudential practice guide

SPG 530 Investment Governance
Current
20 July 2023
SPG 530 Investment Governance provides guidance to RSE licensees on SPS 530 Investment Governance.

Recovery and Resolution

Recovery and Resolution standards require entities to strengthen crisis preparedness. They include requirements such as resolution, recovery and exit planning.

Recovery

Prudential standard

CPS 190 Recovery and Exit Planning
Current
1 January 2024
CPS 190 Recovery and Exit Planning requires entities to maintain a credible recovery and exit plan. It applies to ADIs and insurers from 1 January 2024, and to RSE licensees from 1 January 2025.

Prudential practice guide

CPG 190 Recovery and Exit Planning
Current
1 January 2024
CPG 190 Recovery and Exit Planning provides guidance to most entities on CPS 190 Recovery and Exit Planning. It applies to ADIs and insurers from 1 January 2024, and to RSE licensees from 1 January 2025.

Resolution

Prudential standard

CPS 900 Resolution Planning
Current
1 January 2024
CPS 900 Resolution Planning requires significant financial institutions (SFIs), and other institutions that provide critical functions, to plan for resolution.

Prudential practice guide

CPG 900 Resolution Planning
Current
1 January 2024
CPG 900 Resolution Planning provides guidance to SFIs and to non-SFIs that provide critical functions on CPS 900 Resolution Planning.

Prudential practice guide

SPG 227 Successor Fund Transfers and Wind-ups
Current
1 July 2017 – 30 June 2025
SPG 227 Successor Fund Transfers and Wind-ups provides guidance to RSE licensees on managing risks from transferring members' benefits.