APRA is responsible for the licensing and prudential supervision of authorised deposit-taking institutions (ADIs) (banks, building societies, credit unions, friendly societies and participants in certain credit card schemes and certain purchaser payment facilities), as well as life and general insurance companies and superannuation funds. APRA issues capital adequacy guidelines for banks which are consistent with the Basel II guidelines. All financial institutions regulated by APRA are required to report on a periodic basis to APRA. Certain financial intermediaries, such as investment banks (which do not otherwise operate as ADIs) are neither licensed nor regulated under the "Banking Act" and are not subject to the prudential supervision of APRA. They may be required to obtain licences under the "Corporations Act" 2001 or other Commonwealth or State legislation, depending on the nature of their business activities in Australia.