The Australian Prudential Regulation Authority (APRA) has released a second consultation package on remuneration for authorised deposit‑taking institutions (ADIs) and general and life insurance companies.

The second package comprises a response paper to the submissions to the previous paper, together with revised draft versions of the relevant governance standards and an associated draft prudential practice guide (PPG).

APRA is seeking submissions on the revised draft standards and PPG by 2 October 2009. It is expected that the final prudential standards and associated PPG will be released in November 2009 and be effective from 1 April 2010.