APRA imposes license conditions on HESTA
APRA has imposed additional license conditions on HESTA to address risk management and board governance concerns during its transition to outsourced admin providers. Deficiencies during the transition, which was finalised in June 2025, rendered the $100 billion fund inadequately prepared to effectively oversee and manage the transition, APRA said. This resulted in a “severe, prolonged disruption to member services and caused direct harm to members”....
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