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| John Laker |
The Australian Prudential Regulation Authority (APRA) has signalled it will be seeking industry support to sustain staffing levels after increased funding provided by the Federal Government to help deal with the global financial crisis (GFC) expires next financial year.
APRA chairman John Laker has told a financial services luncheon in Sydney that the regulator’s staffing levels had been supported by the special four-year funding it received from the Government to deal with the GFC, which comes to an end after 2011-12.
Referring to the end of the special funding period, he said the regulator would “begin a dialogue with the Government and the industry next year about our longer-term staff needs, drawing on our crisis experience”.
In the absence of specific Commonwealth funding, APRA and the other regulators have been reliant on monies levied from the financial services industry.
