You are using an older browser version. Please use a supported version for the best MSN experience.

APRA warns on 'risk culture'

AAP logoAAP 18/10/2016 Garry Shilson-Josling, Economist

The financial regulator says there has been a greater focus on risk culture within institutions it oversees but has issued a warning that it will be keeping a close eye on the stragglers.

Australian Prudential Regulation Authority chairman Wayne Byres said that although a newly released information paper found that it was critical that industry sustain its focus on improving risk culture, APRA "cannot regulate sound risk culture into existence".

"However, APRA will apply greater supervisory intensity to institutions that are either unwilling or unable to address behaviours that are inconsistent with prudent risk management practices," he said.

image beaconimage beaconimage beacon