APRA RESCINDS INFORMATION PAPER ON CLOUD OUTSOURCING AND CEASES AD HOC CREDIT REPORTING COLLECTION

SYDNEY, Feb. 19 -- Australian Prudential Regulation Authority issued the following media release:

The Australian Prudential Regulation Authority (APRA) has confirmed two further steps to simplify the prudential framework.

First, APRA has today rescinded the 2018 Information Paper "Outsourcing Involving Cloud Computing Services" in light ofPrudential Standard CPS 230 Operational Risk Management (CPS 230).

CPS 230comes into effect 1 July 2025 (replacing existing standards 231 Outsourcing and 232 Business Continuity Management) andincludes formal supervisory coverage for entities with cloud service provider arrangements.

Based on industry feedback, the withdrawal of the information paper aims to reduce regulatory burden andimprove clarity ...