Super Alert – 4 September 2026: consultation proposing changes to FAR administration, notes from superannuation CEO roundtables, APRA quarterly super stats

Welcome to the weekly KHQ Super Alert. This week, APRA and ASIC released a consultation proposing changes to administration of the Financial Accountability Regime and published notes from recent superannuation CEO roundtables. APRA also published quarterly superannuation statistics, responded to consultation on data collections systems, and welcomed a new superannuation Deputy Chair.

APRA and ASIC – Consultation proposing changes to FAR administration

On 2 September 2026, APRA and ASIC released a formal consultation proposing changes designed to streamline the administration of the Financial Accountability Regime (FAR) through changes to the ‘FAR Regulator Rules’ and regulatory expectations.

APRA and ASIC intend to finalise the proposed changes by the end of 2026, with the commencement of the amendments planned for early 2027.

The proposed changes are summarised as follows:

• amending the Financial Accountability Regime (Information for register) Regulator Rules 2024 such that key functions will no longer be prescribed information for inclusion in an entity’s register of accountable persons; and
• ‘APRA and ASIC will no longer expect that reporting lines to accountable persons will be included in accountability maps, [to] reduce ongoing notification requirements for enhanced entities’.

APRA and ASIC are specifically seeking feedback on the following questions:

• ‘Will the proposed changes materially reduce the time and costs of FAR reporting obligations and ongoing compliance? Please provide a quantitative estimate of time and cost impact where possible.’
• ‘Will the proposed changes weaken or otherwise affect accountability? If so, how?’
• ‘Are there any unintended consequences of the proposed changes?’
• ‘Are there any other areas APRA and ASIC could provide further clarity on or reduce regulatory burden?’

The consultation period ends on 2 October 2026.

Click here  and here for details.

APRA and ASIC – Notes published from recent superannuation CEO roundtables

On 1 September 2026, APRA and ASIC published public notes from recent superannuation CEO roundtables, held on 24 and 30 June 2026. As mentioned in our Super Alert of 28 August 2026, the roundtables, which were held by APRA and ASIC jointly, focused on ‘frontier artificial intelligence (AI), cyber and operational resilience, and crisis preparedness, alongside discussion of broader emerging issues facing the sector’.

According to the regulators, the roundtables ‘reinforced the importance of strong governance, operational resilience, effective third-party oversight and industry collaboration as the superannuation sector continues to navigate an increasingly complex and interconnected risk environment’.

Click here and here  for details.

APRA – New Deputy Chair commences

On 1 September 2026, APRA announced the commencement of David Bradbury in his role as APRA’s Deputy Chair. ‘Mr Bradbury has been appointed for a five-year term and will oversee APRA’s work in superannuation.’ The new appointment completes APRA’s new Executive Board, following the Treasurer’s July announcement appointing Mr Bradbury and Ms McCarthy Hockey as Deputy Chairs.

Click here for details.

 APRA – Quarterly superannuation statistics published

On 31 August 2026, APRA released the latest superannuation statistics for the quarter ending 30 June 2026. Total superannuation assets increased to almost $4.8 trillion, which is a 9.5% increase compared to the same period last year. There was also a 12.8% increase in total member contributions over the year.

Click here and here for details.

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