{"id":"F2017L00724","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 11 of 2017","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-11-of-2017","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":96542,"registerId":"commonwealth-F2017L00724-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Authority","sectionType":"division","heading":"Authority","content":"### Authority\n\n1.  This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.","sortOrder":0},{"sectionNumber":"Purpose","sectionType":"division","heading":"Purpose","content":"### Purpose\n\n2. Information collected in Form SRF 720.0 ABS Statement of Financial Position (SRF 720.0) is used by the Australian Bureau of Statistics (ABS) for compilation of the Australian National Accounts and other publications. It may also be used by APRA for the purposes of prudential supervision and publication.","sortOrder":1},{"sectionNumber":"Application and commencement","sectionType":"division","heading":"Application and commencement","content":"### Application and commencement\n\n3. This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) in respect of each relevant RSE within its business operations.[\\[1\\]](#_ftn1)\n\n4. For the purposes of this Reporting Standard, a ‘relevant RSE’ is an RSE, defined benefit RSE, pooled superannuation trust (PST) or eligible rollover fund (ERF) that had total assets equal to or greater than $200 million at the end of the most recent year of income at the time of reporting.\n\n5. This Reporting Standard applies for reporting periods ending on or after 1 July 2017.","sortOrder":2},{"sectionNumber":"Information required","sectionType":"division","heading":"Information required","content":"### Information required\n\n6. An RSE licensee to which this Reporting Standard applies must provide APRA with the information required by SRF 720.0 in respect of each reporting period.","sortOrder":3},{"sectionNumber":"Forms and method of submission","sectionType":"division","heading":"Forms and method of submission","content":"### Forms and method of submission\n\n7. The information required by this Reporting Standard must be given to APRA in electronic format using the ‘Direct to APRA’ application or, where ‘Direct to APRA’ is not available, by a method notified by APRA, in writing, prior to submission.\n\nNote: the ‘Direct to APRA’ application software (also known as ‘D2A’) may be obtained from APRA.","sortOrder":4},{"sectionNumber":"Reporting periods and due dates","sectionType":"division","heading":"Reporting periods and due dates","content":"### Reporting periods and due dates\n\n8. Subject to paragraph 9, an RSE licensee to which this Reporting Standard applies must provide the information required by this Reporting Standard in respect of each relevant RSE within its business operations for each quarter based on the year of income of the entity.\n\n9. If, having regard to the particular circumstances of a relevant RSE, APRA considers it necessary or desirable to obtain information more or less frequently than as provided by paragraph 8, APRA may, by notice in writing, change the reporting periods for the particular relevant RSE.\n\n10. The information required by this Reporting Standard must be provided to APRA:\n\n(a) in the case of quarterly information, within 28 calendar days after the end of the quarter to which the information relates[\\[2\\]](#_ftn2); and\n\n(b) in the case of information provided in accordance with paragraph 9, within the time specified by notice in writing.\n\n11. APRA may grant, in writing, an RSE licensee an extension of a due date with respect to one or more relevant RSEs within its business operations, in which case the new due date for the provision of the information will be the date on the notice of extension.","sortOrder":5},{"sectionNumber":"Quality control","sectionType":"division","heading":"Quality control","content":"### Quality control\n\n12. All information provided by an RSE licensee under this Reporting Standard must be subject to systems, processes and controls developed by the RSE licensee for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the RSE licensee to ensure that an appropriate set of policies and procedures for the authorisation of information submitted to APRA is in place.\n\n13. The information provided by an RSE licensee under this Reporting Standard is not required to be audited or tested by the RSE auditor of the relevant RSE to which the information relates.\n\n14. An RSE licensee must ensure that the information provided under this Reporting Standard is as accurate as possible. Where accurate information is not readily available, an RSE licensee may report a careful estimate where that estimate is the product of systems, processes and controls developed by the RSE licensee for this purpose.","sortOrder":6},{"sectionNumber":"Authorisation","sectionType":"division","heading":"Authorisation","content":"### Authorisation\n\n15. When an officer or agent of an RSE licensee provides the information required by this Reporting Standard using the ‘Direct to APRA’ software, it will be necessary for the officer or agent to digitally sign the relevant information using a digital certificate acceptable to APRA.\n\n16. If the information required by this Reporting Standard is provided by an agent who submits using the ‘Direct to APRA’ software on the RSE licensee’s behalf, the RSE licensee must:\n\n(a) obtain from the agent a copy of the completed form with the information provided to APRA; and\n\n(b) retain the completed copy.\n\n17. An officer or agent of an RSE licensee who submits the information under this Reporting Standard for, on behalf of, the RSE licensee must be authorised by either:\n\n(a) the Chief Executive Officer of the RSE licensee; or\n\n(b) the Chief Financial Officer of the RSE licensee.","sortOrder":7},{"sectionNumber":"Variations","sectionType":"division","heading":"Variations","content":"### Variations\n\n18. APRA may, by written notice to an RSE licensee, vary the reporting requirements of SRF 720.0 in relation to that RSE licensee or one or more relevant RSEs within that RSE licensee’s business operations.","sortOrder":8},{"sectionNumber":"Interpretation","sectionType":"division","heading":"Interpretation","content":"### Interpretation\n\n19. In this Reporting Standard:\n\nAPRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;\n\nChief Executive Officer means the chief executive officer of the RSE licensee, by whatever name called, and whether or not he or she is a member of the Board of the RSE licensee[\\[3\\]](#_ftn3);\n\nChief Financial Officer means the chief financial officer of the RSE licensee, by whatever name called;\n\ndefined benefit RSE means an RSE that is a defined benefit fund within the meaning given in Prudential Standard SPS 160 Defined Benefit Matters;\n\ndue date means the relevant date under paragraph 10 or, if applicable, paragraph 11;\n\neligible rollover fund (ERF) has the meaning given in section 10(1) of the SIS Act;\n\npooled superannuation trust (PST) has the meaning given in section 10(1) of the SIS Act;\n\nreporting period means a period mentioned in paragraph 8 or, if applicable, paragraph 9;\n\nRSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act that is not a defined benefit RSE, PST, ERF, small APRA fund or single member approved deposit fund[\\[4\\]](#_ftn4);\n\nRSE auditor means an auditor appointed by the RSE licensee to perform functions under this Reporting Standard;\n\nRSE licensee has the meaning given in section 10(1) of the SIS Act;\n\nSIS Act means Superannuation Industry (Supervision) Act 1993; and\n\nyear of income has the meaning given in section 10(1) of the SIS Act.","sortOrder":9}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":true,"description":"This Reporting Standard narrows the set of entities required to report SRF 720.0 by applying only to RSEs with total assets of $200 million or more at the end of the most recent year of income (para 4). It also permits APRA to vary reporting coverage or frequency for particular RSEs by written notice (paras 9, 18), so the practical scope can be adjusted case by case."},"complexity_factors":["Coverage threshold: applies only to RSEs with total assets ≥ $200 million at the end of the most recent year of income (para 4) — adds a materiality cutoff.","Reporting frequency: standard quarterly reporting based on year of income (para 8) with APRA power to change frequency for particular RSEs (para 9).","Submission timing and extensions: 28 calendar days after quarter-end by default (para 10(a)); APRA may specify alternative times or grant written extensions (paras 10(b), 11).","Electronic submission and authorisation: mandatory use of ‘Direct to APRA’ (D2A) or APRA‑notified method, with digital certificate signing (paras 7, 15).","Retention and agent use: agents may submit but the licensee must obtain and retain a copy of the completed form (para 16).","Internal controls requirement: Board and senior management must implement systems, processes and policies for internal review and authorisation (para 12).","Audit exemption and use of estimates: reporting is not required to be audited by the RSE auditor (para 13); careful estimates are permitted where accurate data is not readily available (para 14), creating judgment and documentation requirements.","APRA discretion to vary content: APRA may vary reporting requirements for particular licensees or RSEs by written notice (para 18) — creates regulatory tailoring and potential compliance uncertainty.","Authorised submitter requirement: submissions must be authorised by the CEO or CFO of the RSE licensee (para 17) — concentrates accountability."],"plain_english_summary":"This Determination requires RSE licensees for registrable superannuation entities with at least $200 million in assets to submit the SRF 720.0 Statement of Financial Position to APRA electronically, usually each quarter. APRA and the ABS will use the data for national accounts and prudential purposes.\n\nBoards must maintain internal review systems; submissions must be digitally signed. APRA can change reporting frequency or vary requirements for particular RSEs."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This is a standard reporting determination made under the Financial Sector (Collection of Data) Act 2001. It implements a specific data collection (Form SRF 720.0) for statistical and prudential purposes. The scope remains tightly focused on quarterly financial position reporting for large superannuation entities, consistent with the original intent of the enabling Act to facilitate data collection for statistical and supervisory purposes."},"complexity_factors":["Short, single-purpose instrument (19 sections)","12 defined terms in the interpretation section, mostly referencing external legislation (SIS Act) rather than creating new definitions","Straightforward conditional logic: threshold test ($200M assets) determines application","Minimal cross-referencing — primarily refers to the enabling Act (Financial Sector (Collection of Data) Act 2001) and SIS Act for definitions","Simple structure: authority, purpose, application, requirements, method, timing, quality, authorisation, variations, interpretation","No nested exceptions or complex temporal provisions beyond standard quarterly reporting with discretionary extensions"],"plain_english_summary":"Large superannuation funds (RSE licensees with ≥$200M in assets) must submit the SRF 720.0 financial-position form quarterly to APRA’s Direct to APRA (D2A) system within 28 days of each quarter. Reports can use unaudited figures or estimates if systems support them, and must be authorised by the CEO or CFO; APRA can vary frequency or extend deadlines. This gives the ABS and APRA timely, consistent data for national accounts and prudential oversight."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-11-of-2017","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-11-of-2017/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-11-of-2017/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-11-of-2017/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-11-of-2017/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-11-of-2017/documents"}}