The Australian Prudential Regulation Authority has published remarks by Deputy Chair Margaret Cole setting out an intensified supervisory focus on lifting superannuation trustee standards, particularly in operational risk management, cyber controls and investment governance, to strengthen fund resilience and protect retirement savings. Cole warned that too many trustees have been caught off guard by events that were not entirely unforeseeable, and urged heightened vigilance over cyber risk to assets in retirement phase products, given the greater avenues for withdrawals from the superannuation system. APRA will continue to target shortcomings in governance of investment valuations, liquidity and platforms, with platform trustees facing continued heightened scrutiny in 2026. The speech also signalled ongoing “more muscular” use of licence conditions as a tool to drive immediate remediation of deficiencies without extended court processes.
Australian Prudential Regulation Authority 2026-02-04
Australian Prudential Regulation Authority signals heightened 2026 scrutiny of superannuation trustees and continued use of licence conditions
The Australian Prudential Regulation Authority's Deputy Chair, Margaret Cole, emphasized an intensified supervisory focus on enhancing superannuation trustee standards in operational risk management, cyber controls, and investment governance to bolster fund resilience and safeguard retirement savings. APRA will maintain scrutiny on governance shortcomings and employ stricter licence conditions to address deficiencies promptly.