APRA Prudential Practice Guide PPG 511 - Remuneration

By : 6clicks
This prudential practice guide aims to assist institutions regulated by the Australian Prudential Regulation Authority (APRA) in considering and prudently managing the risks that may arise from their remuneration arrangements.
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Prudential practice guides (PPGs) provide guidance on APRA’s view of sound practice in particular areas. PPGs frequently discuss statutory requirements from legislation, regulations or APRA’s prudential standards, but do not themselves create enforceable requirements.

This PPG sets out guidance for all APRA-regulated entities on remuneration practices, to support Prudential Standard CPS 511 Remuneration (CPS 511). CPS 511 sets out requirements to ensure entities maintain remuneration arrangements which appropriately incentiviseindividuals to prudently manage the risks they are responsible for, and apply consequences for poor risk outcomes.

Subject to meeting prudential requirements, and other legislative and regulatory requirements relating to remuneration, including those that would apply under the Financial Accountability Regime (FAR) when they take effect, entities have the flexibility to manage their remuneration practices in a manner that is best suited to achieving their objectives. Not all of
the guidance in this PPG will be relevant for every entity, and some practices may vary depending upon an entity’s size, complexity and risk profile.

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Jurisdiction Australia
Type Laws or related obligations