APRA should be ‘the last line of defense’ to protect members

The CEO of an Australian super fund says financial regulator APRA needs to act as 'the last line of defense' to protect trust members. Responding to a scathing review of APRA , acting CEO of Industry Super Australia Matt Linden told Sky News he would like to see the company tackle the issue of under-performing superannuation accounts. 'There are millions of people in under-performing superannuation accounts. The key task for the regulator is to crackdown on that under performance and connect superannuation members to high quality funds,' he says. 'The regulator has an important role here in ensuring trustees uphold the law and put members' interests first.'

from National | Daily Telegraph https://ift.tt/2Y1L0YH