APRA imposes licence conditions on Bendigo and Adelaide Bank
After a root cause review found longstanding weaknesses in non-financial risk management, APRA imposed licence conditions and kept a $50m operational risk capital add-on in place. It signals APRA expects demonstrable, sustained remediation, not just documented programs.
What it means for business
Consider testing whether your risk transformation program can evidence real control improvement rather than completed milestones.
What does this mean for your business?
If this development touches your contracts, compliance or reporting, it may be worth a short conversation. Get in touch through our contact page and a senior lawyer will reply within one business day.
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