CTHRepealedLegislation
Banking (prudential standard) determination No. 10 of 2011 - Prudential Standard APS 910 - Financial Claims Scheme
Objective and key requirements of this PObjective and key requirements of this Prudential Standard
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Objective and key requirements of this Prudential Standard
This Prudential Standard sets out the minimum requirements that an ADI must meet to ensure it is adequately prepared should it be declared under the Financial Claims Scheme.
The key requirements of this Prudential Standard include that:
- an ADI must identify each unique account-holder, to the extent practicable;
- an ADI must develop and implement a Single Customer View;
- an ADI must put in place processes and controls to ensure the integrity of Single Customer View data; and
- the systems and data required by this Prudential Standard must be subject to both external audit and sign-off by the chief executive officer.