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flag Australian regulators demand stronger superannuation oversight after fund collapses, urging better due diligence and accountability.

flag Australian regulators, including APRA and ASIC, are demanding stronger oversight of superannuation platforms following the collapse of funds like Shield and First Guardian, warning that overreliance on external researchers for product approvals poses risks. flag APRA has urged trustees to improve due diligence, monitoring, and accountability, emphasizing they cannot delegate responsibility despite using third-party evaluators. flag The government is reviewing regulatory requirements, considering expanded powers for ASIC, while the Financial Services Council develops best practice guidelines to enhance governance and consumer protection across the sector.

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