APRA receives BUSSQ independent expert report
The Australian Prudential Regulation Authority (APRA) has received the final independent expert report on BUSS (Queensland) Pty Ltd, the trustee for The Building Unions Superannuation Scheme (Queensland) (BUSSQ).
Under licence conditions imposed in August 2024 and varied by APRA in March 2025, BUSSQ was required to appoint an independent expert to review its fit and proper processes and expenditure management practices.
BUSSQ is now required under the licence conditions to publish the report.
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.