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BUSSQ abandons court appeal, concedes to licence conditions
Financial Standard
|March 24, 2025
BUSSQ has pulled the plug on its Federal Court appeal for a judicial review of APRA's additional licence conditions, caving to the regulator's edict.
At the same time, APRA has tweaked the conditions it slapped on BUSSQ last August, which force the fund to hire an independent party to probe its fit and proper processes and expenditure management practices.
The regulator adjusted compliance timeframes to clarify "the operation of the conditions" and to ensure the fund begins its required work "as soon as possible."
BUSSQ was given an opportunity to review and respond before the changes were finalised.
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