ISA welcomes the recognition by the Royal Commission and APRA that how remuneration systems operate within financial entities has important implications for how those entities behave and treat their customers and members. We therefore welcome consultation on APRA’s proposed reforms to the prudential regulation of remuneration design and implementation.
In this submission we comment on a number of issues raised by the draft of CPS 511 and APRA’s Discussion Paper. We argue that several important matters remain unclear and unresolved. ISA would therefore welcome further opportunities to engage with APRA on these matters before a final CPS 511 is issued.