Reporting Form RF 520 Fit and Proper: Responsible persons profile

Reporting Form RF 520
Fit and Proper: Responsible persons profile
Instruction Guide
Authorised deposit-taking institutions (ADIs), general insurers, non-operating holding
companies (NOHCs), life insurers and friendly societies are obliged to provide
certain information to APRA and to ensure that this information remains correct for
all responsible persons. This form must be submitted to provide revised information
to APRA within 28 days of any change to information previously notified to APRA or
new responsible person appointment. Notification under paragraph 42 of Prudential
Standard APS 520 Fit and Proper (APS 520), paragraph 44 of Prudential Standard
GPS 520 Fit and Proper (GPS 520), and paragraph 41 of Prudential Standard LPS
520 Fit and Proper (LPS 520) that a person is no longer fit and proper must occur
within 10 days.
In order to assist entities in complying with the requirement to ensure that information
provided to APRA remains correct for all responsible persons, the form will be
provided on an annual basis to all entities submitting annual returns via D2A. Entities
can use the annual form to correct and update the information they have provided to
APRA through the year.
In completing this form, entities should refer to APS 520 and Prudential Practice
Guide APG 520 Fit and Proper, GPS 520 and Prudential Practice Guide GPG 520
Fit and Proper or LPS 520 and Prudential Practice Guide LPG 520 Fit and Proper as
appropriate.
This Guide has been prepared to assist in the completion and lodgement of RF 520 Fit
and Proper. For ease of use, the Guide has been split into two main sections:
(a)
General direction and notes – this guidance provides principles that should be
applied to all items throughout RF 520 Fit and Proper; and
(b)
Specific instructions – this guidance should be applied to the specific items
which relate to each reporting entity.
General directions and notes
Most address and responsible person information will be pre-populated in D2A by
APRA based on the most recent notification previously provided to APRA. Prepopulated data should therefore be reviewed and, if necessary, amended to ensure the
information is current and correct.
Lodgement and authentication codes
Once RF 520 Fit and Proper has been completed and submitted to APRA, an
authentication code is generated in D2A from information entered into the form. The
RF 520 Instructions
authentication code and date submitted appear in the footer of each page of the return.
Any change of information entered or resubmission of the return will result in a
change to the authentication code.
A receipt indicating successful lodgement of the return will be provided via email.
There may be a slight delay in a receipt being provided if the submission is made in
the last week of October. This is because it is the busiest week of form submissions
for D2A. Do not resubmit your return as the receipt will be generated.
Validation
Error: Mandatory rules – this indicates an error in an item, for example a specific role
must be included in a table. These errors must be corrected before the return can be
lodged.
Reporting entity
This form is to be completed by all ADIs, general insurers, NOHCs, life companies
and friendly societies.
Reporting period
The form is to be completed when the information supplied to APRA under APS 520,
GPS 520 or LPS 520 is no longer correct for all of the responsible persons of the ADI,
general insurer, life company or friendly society. The form must be used to provide
revised information within 28 days of any change or new appointment for a
responsible person. Appointments and cessations of both Appointed Actuaries and
Appointed Auditors under s46 of the Insurance Act 1973 (Insurance Act) must be
notified within 14 days. Appointments and cessations of Appointed Actuaries (s 95 of
the Life Insurance Act 1995 Life Insurance Act) and of Auditors (s87 of the Life
Insurance Act) must also be notified within 14 days.
Whilst the due date on the return is 30 April, the form does not actually need to be
submitted by this date. The due date is required in order for D2A to generate the
return. When the form is refreshed the most recent due date may be selected.
Specific instructions
1.
Address details for the reporting entity
Important!
The details in item 1 will be populated by APRA based on the information previously
provided by the entity in the Notification of Responsible Persons under Prudential
Standard 520 Fit and Proper form. Please review the pre-populated data and make
corrections where the information is incorrect or out of date.
1.1 Registered Address of the reporting entity
Record the registered address of the reporting entity. (This address must be a street
address).
RF 520 Instructions
1.2 Address for Correspondence of the reporting entity
Record the postal address of the reporting entity.
2.
Responsible Person Details
Important!
The details in item 2 will be populated by APRA based on the information provided
by the entity under APS 520 , GPS 520 or LPS 520. Please review the pre-populated
data and make corrections where the information is incorrect or out of date.
2.1 Title and name
Record the names of the responsible persons.
2.2 Date of birth
Record the date of birth of the responsible persons.
2.3 Former name(s)
Record the former name(s), if any, of any newly reported responsible persons.
2.4 Phone number (optional)
Record the contact number (including STD code) of the responsible persons.
2.5 E-mail (optional)
Record the e-mail address of the responsible persons.
2.6 Position title
Record the employment position title of the responsible persons. If the position of a
responsible person has changed within the entity, the old role should be ended with
the appropriate end date, and the new position should be notified with the appropriate
start date.
2.7 Main responsibilities
Record the main responsibilities of any newly reported responsible persons if it is not
clear what they are from their position title.
2.8 Start/end date
Record the date a person commenced being a responsible person if you are notifying
APRA of a new responsible person or a change in a person’s position within the
entity.
Record the date a person ceased being a responsible person if you are notifying APRA
of someone who has ceased to be a responsible person.
RF 520 Instructions
2.9 Notification under paragraph 42 of APS 520 Fit and Proper or
paragraph 44 of GPS 520 Fit and Proper that a person is no longer
fit and proper
Where a cease date is recorded for a person who has ceased to be a responsible
person, indicate ‘yes’ or ‘no’ if the reason the person ceased being a responsible
person is because they are no longer fit and proper.
2.10 Director
Record ‘Y’ if the responsible person is a director of the company.
2.11 Senior Officer outside Australia
The ultimate responsibility for the safety and soundness of a foreign insurer and a
foreign ADI resides with its Board. Foreign general insurers and foreign ADIs must
nominate a senior officer (whether a director or senior executive) outside Australia
with delegated authority from the Board who will be responsible for overseeing the
Australian Branch Operation.
Record ‘Y’ if the person is the Senior Officer outside Australia, as required under
paragraph 14 of GPS 510 for a foreign general insurer or paragraph 14 of APS 510 for
a foreign ADI.
2.12 Assessed under Fit and Proper policy
Record whether new persons have been assessed under the entity’s Fit and Proper
policy. The tickbox should be marked ‘I’ in the instance where a person holding an
interim appointment has not yet been assessed.
3.
External Auditor Details
If the entity is a general insurer, record the external auditor approved under section 40
of the Insurance Act (Appointed Auditor). If the entity is a life company, record the
auditor appointed under section 83 of the Life Insurance Act.
If the entity is an ADI, record the responsible auditor. The responsible auditor is
defined in subparagraph 8(c) of APS 520 as an auditor who provides any report in
relation to the regulated institution that is required to be prepared by an auditor under
the Banking Act 1959 (including Prudential Standards) or Reporting Standards under
the Financial Sector (Collection of Data) Act 2001.
3.1 Title and name
Record the names of the external auditor.
3.2 Date of birth
Record the date of birth of the external auditor.
3.3 Phone number (optional)
RF 520 Instructions
Record the contact number (including STD code) of the external auditor.
3.4 E-mail (optional)
Record the e-mail address of the external auditor.
3.5 Position title
Record the employment position title of the external auditor.
3.6 Start/end date
Record the date a person commenced being an external auditor if you are notifying
APRA of a new external auditor.
Record the date a person ceased being an external auditor if you are notifying APRA
of someone who has ceased to be an external auditor.
3.7 Assessed under Fit and Proper policy
Record whether a new external auditor has been assessed under the entity’s Fit and
Proper policy. The tickbox should be marked ‘I’ in the instance where an external
auditor holding an interim appointment has not yet been assessed.
3.8
Audit firm
Record the name of the external audit firm for the entity.
3.8.1 Audit firm ABN
Record the ABN of the external audit firm.
4.
Appointed Actuary Details
If the entity is an insurer, record the actuary appointed under section 39 of the
Insurance Act (for general insurers) or section 93 of the Life insurance Act (for life
companies) (Appointed Actuary). If the insurer is a general insurer and has a
reviewing actuary, record the reviewing actuary as well.
If the entity is an ADI or NOHC no value should be recorded.
4.1 Title and name
Record the names of the actuary.
4.2 Date of birth
Record the date of birth of the actuary.
4.3 Phone number (optional)
Record the contact number (including STD code) of the actuary.
RF 520 Instructions
4.4 E-mail (optional)
Record the e-mail address of the actuary.
4.5 Position title
Record the employment position title of the actuary.
4.6 Start/end date
Record the date a person commenced being an actuary if you are notifying APRA of a
new actuary.
Record the date a person ceased being an actuary if you are notifying APRA of
someone who has ceased to be an actuary.
4.7 Assessed under Fit and Proper policy
Record whether a new actuary has been assessed under the entity’s Fit and Proper
policy. The tickbox should be marked ‘I’ in the instance where an actuary holding an
interim appointment has not yet been assessed.
4.8 Organisation Name
Record the name of the actuarial firm for the entity. If the Appointed Actuary is
employed by the insurer, record the insurer’s name.
4.9
Organisation ABN
Record the ABN of the actuarial firm. If the Appointed Actuary is employed by the
insurer, record the insurer’s ABN.
5.
Billing Contact Information
This information is requested on a voluntary basis and will assist APRA in ensuring
the annual financial levy invoice is addressed to the correct person and location.
5.1 Title and name
Record the names of the nominated person to receive the annual APRA financial levy
invoice.
5.2 Position title
Record the employment position title of the contact person.
5.3 Phone number
Record the contact number (including STD code) of the contact person.
5.4 Fax number
Record the fax number (including STD code) of the contact person.
RF 520 Instructions
5.5 E-mail
Record the e-mail address of the contact person.
5.6 Invoice Preference
Indicate the preferred format in which the entity would like to receive the invoices.
The options are via fax, email or mail.
5.7 Billing address of the reporting entity
Record the address to which invoices are to be addressed.
6.
Crisis Management Contact
This information is requested on a voluntary basis and will assist APRA in contacting
the entity in an emergency.
6.1 Title and name
Record the names of the nominated primary and secondary crisis contact persons.
6.2 Position title
Record the employment position titles of the primary and secondary crisis contact
persons.
6.3 Mobile phone number
Record the mobile phone numbers of the primary and secondary crisis contact
persons.
6.4 Phone number
Record the contact numbers (including STD code) of the primary and secondary crisis
contact persons.
6.5 E-mail
Record the e-mail addresses of the primary and secondary crisis contact persons.
6.6 Recovery Site Phone Number
Record the phone number of the nominated recovery site for the entity.
RF 520 Instructions