From financialnewswire.com.au: APRA defended its procedures regarding former executives who now serve on the boards of Macquarie Bank and the Australian Retirement Trust.
The regulator clarified that while it recommends a 12-month waiting period before former members take up directorships in APRA-regulated entities, this guideline is not legally binding.
APRA emphasized the importance of maintaining confidentiality and managing any potential conflicts of interest even after members leave their roles.