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Mutuals Newsletter: February 2019

Mutuals Newsletter: February 2019

The world of financial services is ever-evolving. In this newsletter, we provide insight into the challenges and opportunities facing Australia's mutual banks, building societies and credit unions.

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Brendan Twining

National Sector Leader, Mutual Banks

KPMG Australia

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In this issue, we focus on three current topics:

The Royal Commission Final Report

Following the release of the Royal Commission Final Report, we have summarised the themes that may have a direct impact on the banking and mutuals sector.

Mutual Entity Bill

The Mutual Entity Bill is an important step towards enabling Mutuals to access new sources of capital. This will ultimately assist the sector with further promoting growth and innovation in a highly competitive financial services market.

CPS 234: Information Security

APRA has finalised and released a cross-industry framework for the management of information security in CPS 234: Information Security, which sets out mandatory requirements for information security management for APRA regulated entities.

Australian Mutuals – Key developments and updates

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