APRA confirms it has received Cbus independent review

The news: The prudential regulator has announced that it has received the final report from an independent expert on Cbus' fitness and propriety of its responsible person and fund expenditure management.

The context: The Australian Prudential Regulation Authority (APRA) noted that Cbus was now required to publish the report as part of additional licence conditions it had imposed on the super fund.

The regulator placed additional licence conditions on Cbus in August after public allegations regarding serious misconduct within the CFMEU and the steps taken by state and federal governments and the Fair Work Commission.

Earlier this month, APRA said it was considering taking further action on the super fund, as it had not received the independent review report despite Cbus announcing that an independent review confirmed its directors were fit and proper.