From financialnewswire.com.au: Australian Prudential Regulation Authority faced scrutiny from Labor Senator Tony Sheldon, who questioned whether expenditures funded by supervisory levies, such as a $70,000 Christmas party, are in the best interests of superannuation fund members.

Sheldon sought clarity on the processes APRA follows to ensure that its spending aligns with member interests.

APRA has not responded to Sheldon’s inquiries, and the questions remain unanswered on the Parliament House website.