The Australian Prudential Regulatory Authority is proposing new rules for "conglomerate groups" with substantial activities beyond one APRA-regulated industry. The proposals cover governance, transparency, risk management and capital.APRA chairman John Laker said, in a statement, that the introduction of this framework for conglomerates - so-called "Level 3 groups" - was a significant evolution of APRA's broader prudential framework.And, he said, one of the key lessons of the global financial crisis had been the need to better capture the risks facing institutions that were part of a wider conglomerate.APRA plans to consult on the proposals through 2013 and put in place standards from 1 January 2014.