2 stories mentioning ASX:MYSUpdated 53d ago
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MyState (ASX:MYS) said Sandra Birkensleigh is retiring as the company's chair, effective June 30, according to a Monday filing with the Australian bourse.The company's board reappointed non-executive director Vaughn Richtor as chair, effective July 1. Richtor joined the MyState board in September 2019 and served as its chair from April 2022 to February 2025.
The Australian Prudential Regulation Authority (APRA) wrote to banks and confirmed plans to formally introduce a three-tiered approach to proportionality in its prudential framework for banking, according to a Wednesday statement.Effective July 1, APRA said it will introduce a third tier of "Most Significant Financial Institutions" for banks with total assets of over AU$300 billion, raise the asset value threshold for banks to qualify as a "Significant Financial Institution" (SFI) to AU$30 billion from AU$20 billion, and automatically provide a 12-month transition period when a regulated institution moves to a higher tier.The regulator said the planned move was in response to the Council of Financial Regulators' review into small and medium-sized banks, undertaken in consultation with the Australian Competition and Consumer Commission.APRA also committed to providing non-SFIs with additional time to comply with new and revised prudential requirements when appropriate.Judo Capital Holdings' shares shed about 1% in recent Wednesday trade.
