Australian Prudential Regulation Authority

The Australian Prudential Regulation Authority (APRA) is a statutory authority of the Australian Government and the prudential regulator of the Australian financial services industry, established on July 1, 1998 following recommendations of the Wallis Inquiry and operating under the Australian Prudential Regulation Authority Act 1998. Headquartered at 1 Martin Place in Sydney, it supervises banks, credit unions, building societies, friendly societies, general insurance, health insurance, reinsurance and life insurance companies, and most of the superannuation industry, working to ensure these institutions remain financially sound and able to meet their obligations to depositors, fund members and policyholders; as of 2021 to 2022 it oversaw about 8.6 trillion Australian dollars in assets held for depositors, policyholders and superannuation fund members.