News Brief: English
Summary
Australia’s prudential regulator, APRA, has imposed additional licence conditions on the superannuation fund HESTA following a severe, multi-week service disruption earlier this year. The action stems from governance and risk management failures during HESTA’s transition to a new administration provider, which left 1.1 million members unable to access accounts, causing financial harm.
Key Points
- Regulatory Action: APRA imposed extra licence conditions on HESTA due to deficiencies in board governance and risk management.
- Service Disruption: A planned seven-week outage during a provider transition prevented members from accessing accounts, processing transactions, or making withdrawals.
- Member Harm: The disruption caused direct financial harm, with reports of nearly lost home deposits, canceled surgery, and significant stress.
- Required Reviews: HESTA must conduct independent reviews of its risk management framework and board effectiveness.
- Industry Lesson: Consumer advocates state this should be a lesson for all funds to prioritize members’ interests during transitions.
新闻简报：中文
摘要
澳大利亚审慎监管局（APRA）对养老基金HESTA施加了额外的牌照限制，原因是该基金在今年早些时候发生严重且持续的服务中断事件后，暴露出治理和风险管理方面的缺陷。此次中断导致110万成员数周无法访问其账户，并造成了直接财务损害。
关键点
- 监管行动： APRA因HESTA在董事会治理和风险管理方面存在缺陷，对其施加了额外的牌照条件。
- 服务中断： 在更换外包管理提供商期间，计划内长达七周的系统中断导致成员无法访问账户、处理交易或提取资金。
- 成员损害： 中断造成了直接的财务损害，有报告称几乎损失购房定金、被迫取消手术，并给成员带来巨大压力。
- 强制审查： HESTA必须对其风险管理框架和董事会效能进行独立的审查。
- 行业教训： 消费者权益倡导者表示，此事应为所有基金敲响警钟，在类似过渡期间必须将成员利益置于首位。
Original Article Link: https://www.abc.net.au/news/2025-12-11/super-fund-hesta-hit-with-extra-conditions-apra-governance-risk/106128664