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Setting a new standard – LexBlog

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Your roadmap to compliance

APRA has released a draft new Prudential Standard CPS 230 (Operational Risk Management) which will apply to financial institutions, superannuation funds and insurers, and will require significant uplifts to governance, compliance, contractual and incident response arrangements.

CPS 230 will replace existing prudential standards which relate to outsourcing of material business activities (CPS 231, SPS 231 and HPS 231) and business continuity management (CPS 232 and SPS 232). It will operate alongside CPS 220 and SPS 220 (Risk Management), CPS 234 (Information Security) and APS 222 (Associations with Related Entities).

Read our guides on CPS 230 to understand what it will mean for you

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