The Financial Regulator Assessment Authority (FRAA) has developed the Draft Financial System and Regulator Metrics Framework to enhance its ability to assess the effectiveness and capability of the Australian Prudential Regulation Authority (APRA) and Australian Securities and Investments Commission (ASIC).
The metrics framework was not used in the FRAA’s inaugural review of APRA, which the FRAA will deliver to Government by 30 June 2023.
The framework includes metrics to provide another input for future effectiveness and capability assessments, and to assist the FRAA to provide context and insights for its reviews.
Further details regarding the metrics framework, including the key consultation questions, are outlined in the consultation paper.