The regulatory body that oversees the operations of financial institutions such as banks and building societies in Australia is:
A) ASIC.
B) ASX.
C) ATO.
D) APRA.

Question

Quizplus · Accepted Answer

APRA (Australian Prudential Regulation Authority) is the regulatory body responsible for overseeing the operations of financial institutions such as banks and building societies in Australia, to ensure their stability and security. ASIC (Australian Securities and Investments Commission) is responsible for regulating and enforcing corporate and financial services laws to protect consumers, investors and creditors. ASX (Australian Securities Exchange) is the main securities exchange in Australia. ATO (Australian Tax Office) is responsible for collecting taxes and administering Australia's taxation system.

The Regulatory Body That Oversees the Operations of Financial Institutions