Superannuation (prudential standard) determination No 1 of 2012-Prudential Standard SPS 114-Operational Risk Financial Requirement [F2012L02221] and seven related instruments-New and continuing matters [2013] AUSStaCSDLM 3 (7 February 2013)

• Superannuation (prudential standard) determination No. 1 of 2012 - Prudential Standard SPS 114 - Operational Risk Financial Requirement [F2012L02221] and seven related instruments1
• Regulation Impact Statement not provided

Superannuation (prudential standard) determination No. 1 of 2012 - Prudential Standard SPS 114 - Operational Risk Financial Requirement [F2012L02221] and seven related instruments^[1]

Purpose	These instruments determine a number of prudential standards
Last day to disallow	19 March 2013
Authorising legislation	Superannuation Industry (Supervision) Act 1993
Department	Treasury

ISSUE:

Regulation Impact Statement not provided

Each of the ESs which accompanies the instruments notes that a Regulation Impact Statement (RIS) is required for the relevant standard. However, no RISs have been provided with the instruments. Where a RIS has been prepared in relation to an instrument, the committee's longstanding practice is to require that it be provided as an attachment to the ES. The committee will therefore draw this issue to the attention of the minister.

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^[1] Superannuation (prudential standard) determination No. 2 of 2012 - Prudential Standard SPS 220 - Risk Management [F2012L02222]; Superannuation (prudential standard) determination No. 3 of 2012 - Prudential Standard SPS 231 – Outsourcing [F2012L02223]; Superannuation (prudential standard) determination No. 4 of 2012 - Prudential Standard SPS 232 - Business Continuity Management [F2012L02224]; Superannuation (prudential standard) determination No. 5 of 2012 - Prudential Standard SPS 250 - Insurance in Superannuation [F2012L02225]; Superannuation (prudential standard) determination No. 6 of 2012 - Prudential Standard SPS 510 – Governance [F2012L02229]; Superannuation (prudential standard) determination No. 7 of 2012 - Prudential Standard SPS 521 - Conflicts of Interest [2012L02230]; and Superannuation (prudential standard) determination No. 8 of 2012 - Prudential Standard SPS 530 - Investment Governance [F2012L02231].