From financialnewswire.com.au: The Australian Prudential Regulation Authority has gained the authority to disqualify directors and executives of superannuation funds, marking a significant expansion of its regulatory powers effective March 15, 2025.

APRA had never removed a director in the last five years and could only pursue disqualifications through the Federal Court in serious cases.

Senate inquiries highlighted concerns regarding potential conflicts of interest, specifically regarding Cbus chair Wayne Swan’s dual role as ALP national president.