APRA’s performance has been ‘woeful’

Centre Alliance leader Rex Patrick says the financial regulator Australian Prudential Regulation Authority (APRA) needs to be held accountable for its ‘woeful’ performance. APRA Chairman Wayne Byres says the regulator needs more funding to carry out what it calls the 'ambitious' task of cleaning up the banking industry. Mr Patrick says ‘you don’t have to be perfect in your role but you have to take the resources that you have and use them well and that has not occurred’. ‘This is simply not good enough and to blame lack of resources in my view is shirking responsibility’, he says. Image: News Corp Australia

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