APRA and ASIC host Superannuation CEO Roundtables – June 2026

APRA and ASIC recently hosted two joint Superannuation CEO Roundtables on 24 and 30 June 2026, attended by superannuation chief executive officers representing a broad cross-section of the industry. The roundtables focused on frontier artificial intelligence (AI), cyber and operational resilience, and crisis preparedness, alongside discussion of broader emerging issues facing the sector.

Frontier AI, cyber risk and operational resilience

Discussion focused on the increasing intersection of frontier AI, cyber risk and operational resilience. There was broad recognition that AI is accelerating the speed, scale and sophistication of existing cyber threats, reinforcing the importance of strong cyber fundamentals, effective governance and resilient operating models. However, participants acknowledged that organisational maturity, including board engagement and director capability, varies across organisations. High-quality education and practical capability uplift were identified as challenges, but important enablers of effective board oversight.

Participants emphasised the importance of individual organisational accountability even where there is cross industry cooperation and collaboration. Entities need to adopt a risk-based mindset as the focus shifts further from discussing cyber resilience to actively embedding it in business operations. There was broad agreement that by how effectively organisations understand their risk profile, prepare for incidents, respond when they occur, and follow through on remediation and recovery activities.

The discussion also highlighted shared dependencies on material service providers and technology platforms as a key source of systemic vulnerability. Participants considered the implications of increasing reliance on a relatively small number of providers and discussed the need for more dynamic approaches to third-party oversight and assurance. There was general agreement that CPS 230 has sharpened focus on critical operations and supplier dependencies, while transparency and assurance across complex supply chains remain ongoing challenges.

Participants discussed the importance of investing in technology modernisation, cyber resilience and operational capability. Industry collaboration and information sharing were highlighted as important mechanisms for strengthening collective resilience and responding to emerging risks across the sector.

Crisis preparedness

APRA and ASIC led a discussion on crisis preparedness, with a particular focus on 'polycrisis' scenarios involving multiple concurrent disruptions. Participants acknowledged that geopolitical risks are increasingly prominent in board and executive discussions. There was broad agreement that preparedness should focus on building organisational resilience, decision-making capability and crisis response capacity, rather than attempting to predict specific events.

Participants shared insights from crisis simulations and exercises, including scenarios involving cyber incidents, material service provider failures, operational disruptions and significant transformation programs. The discussion highlighted the value of regular testing, clearly defined escalation pathways and robust communication arrangements. Participants noted that crisis exercises often reveal governance, delegation and communication issues that may not be apparent through documentation alone. Participants noted that severe stress events could have implications beyond individual entities, and the response would require coordination across industry, regulators and government agencies. The discussion emphasised the importance of ongoing testing, preparedness and collaboration to strengthen resilience across the financial system.

Broader emerging issues

The roundtables concluded with a discussion of several broader issues affecting the superannuation sector, including the implications of agentic AI, climate-related reporting requirements, and financial advice reform. Participants discussed emerging risks relating to AI-enabled consumer interactions, implementation challenges associated with climate-related reporting, and the ongoing need to improve access to quality and affordable financial advice. Regulators noted that these issues continue to be considered through broader policy, regulatory and government processes.

Overall, the discussion 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.

Appendix I

Attendees - 24 June 2026

APRA attendees

ASIC attendees

CEOs

Superannuation executives

Attendees - 30 June 2026

APRA attendees

ASIC attendees

CEOs

Superannuation executives

Footnotes