HESTA News Today, Dec 12: APRA Highlights Governance Failures Impact
The HESTA super fund is under scrutiny following a recent report by the Australian Prudential Regulation Authority (APRA), which highlights severe governance failures. This incident revolves around the transition to a new administration provider that led to significant disruptions for HESTA’s members. APRA’s intervention stresses the critical importance of robust governance in super funds, especially amid operational changes. The focus now is on how these developments will impact members and what steps are being taken to rectify the situation.
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