On 31 March 2026, the Australian Prudential Regulation Authority (APRA) issued a consultation on remaking Level 3 conglomerate prudential standards which are due to sunset on 1 October 2026.

The Level 3 conglomerate standards, which apply to Level 3 groups determined by APRA, are:

  • Prudential Standard 3PS 310 Audit and Related Matters.
  • Prudential Standard 3PS 221 Aggregate Risk Exposures.
  • Prudential Standard 3PS 222 Intra-group Transactions and Exposures.

APRA proposes to remake these standards with minor amendments to ensure they remain current. The updated standards do not impose new requirements on Level 3 conglomerate groups.

The deadline for comments is 29 May 2026.