From www.investmentlawwatch.com: The Australian Prudential Regulation Authority has proposed reforms to enhance governance standards for regulated entities, including a 10-year tenure limit for non-executive directors and stricter conflict management requirements.

These changes aim to align with international best practices and improve board independence and oversight while applying proportionality to compliance expectations.

The industry has until June 6, 2025, to provide feedback, with the revised standards set to take effect in 2028.