APRA imposes additional conditions on Cbus & BUSQ trustees due to concerns over misconduct allegations related to a shareholder union.

Australian Prudential Regulation Authority (APRA) imposes additional licence conditions on United Super Pty Ltd & BUSS (Queensland) Pty Ltd, serving as trustees for Cbus & BUSQ funds, over concerns regarding fitness and propriety processes & fund expenditure management. APRA is concerned about potential impact due to allegations of serious misconduct within Construction, Forestry and Maritime Employees Union, a shareholder in both entities. Trustees must review their compliance with best interests of members, engage independent experts for reviews and publish reports for transparency.

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