CTHIn ForceLegislation
Banking, Insurance, Life Insurance and Health Insurance (prudential standard) determination No.1 of 2019
Compliance functionCompliance function
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Compliance function
- An APRA-regulated institution must have a designated compliance function that assists senior management of the institution in effectively managing compliance risks. The compliance function must be adequately staffed by appropriately trained and competent persons who have sufficient authority to perform their role effectively, and have a reporting line independent from business lines.