APRA imposed additional licence conditions on HTFS Nominees (trustee of HUB24 Super Fund, ~165,000 members, $55bn FUM) over investment governance and member outcome deficiencies. This is the fifth platform trustee APRA has taken enforcement action against, signalling ongoing regulatory scrutiny of trustee governance arrangements.
ASIC released its enforcement priorities for 2026, with greenwashing, financial services misconduct, and inadequate compliance systems topping the list. The regulator warned it will pursue both entities and individual officers where systemic failures are identified.
AUSTRAC published new guidance on transaction monitoring programs and suspicious matter reporting obligations. The guidance emphasises the need for risk-based approaches and adequate resourcing of AML/CTF compliance functions.
The expanded whistleblower regime comes into effect with enhanced protections for reporters and new obligations on companies to maintain whistleblower policies. Legal and compliance teams are reviewing their frameworks ahead of the start date.
New breach reporting reforms introduce tighter notification deadlines for reportable situations, requiring significant changes to compliance incident management processes. Industry bodies have raised concerns about operational readiness.
APRA's Jane Magill told the All Actuaries Summit that TPD insurance is "being tested by a sharp rise in mental health claims" — now one in three claims paid. Mental health claims for people in their 30s have risen over 700% in the past decade, with implications for risk management frameworks.
Remediation programs continue at Crown and Star following the landmark casino inquiries. AUSTRAC's ongoing monitoring of AML/CTF programs sets precedents for financial services firms' compliance obligations.
APRA's latest System Risk Outlook highlights geopolitical tensions and accelerating technological risks — including cyber threats and AI-related challenges — as key concerns for the financial system. Operational resilience remains a supervisory priority.
ASIC has called for licensees to strengthen oversight of authorised representatives, citing ongoing concerns about advice quality and compliance breaches. The regulator is conducting targeted surveillance of high-risk licensees.
APRA released a consultation paper on CPS 230 — Operational Risk Management, proposing enhanced requirements for business continuity planning, vendor risk management, and scenario analysis for all APRA-regulated entities.
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