The Financial Regulator Assessment Authority (FRAA) is an independent statutory body. It assesses and reports on the effectiveness and capability of the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA).

The FRAA’s statutory mandate requires it to assess and report on the effectiveness and capability of ASIC and APRA by 30 June 2028 and once every 5 financial years thereafter.

A new FRAA panel will be appointed before starting the next assessments. A secretariat function within the Department of the Treasury supports the FRAA.

In the spirit of reconciliation, the Financial Regulator Assessment Authority acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples.