Some of these functions attract interest from regulators (APRA, RBA). What are these special functions? Provide...

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Some of these functions attract interest from regulators(APRA, RBA). What are these special functions? Provide a detaileddiscussion of their importance and why they warrant such closescrutiny by the regulators

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Special function of APRA The Australian Prudential Regulation Authority APRA was formed in the year 1998 It is an independent statutory body which regulates the banks insurance companies superannuation funds and other financial institutions with a primary motive to protect the interest of the depositors policy holders and other parties who are financially connected with these institutions Basically the regulation is for maintaining the soundness of these institutions along with applying prudent safety measures for the sake of the interested parties connected with these institutions In order to supervise earlier stated various financial institutions like bank insurance companies and other financial institutions APRA uses the following means 1 Licencing In order to implement prudent safety measure APRA introduces licensing which ensures the depositors and the other interested parties who have a financial nexus with the financial institutions that at no circumstances they will be deprived by any commitment from the financial See Answer

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