Last week, AFSA Chief Executive Tim Beresford joined senior leaders from Australian Prudential Regulatory Authority (APRA) and Association of Superannuation funds of Australia (ASFA) for CEDA’s livestream discussion: Financial security in uncertain times: building a responsive regulatory framework.
The panel, moderated by Cassandra Winzar, brought together Margaret Cole (APRA), Mary Delahunty (ASFA) and Tim to discuss how regulators can protect Australians’ financial wellbeing — from immediate financial distress to long-term retirement outcomes — during periods of economic volatility.
AFSA’s role and insights
Tim highlighted AFSA’s role in keeping credit flowing through the economy, through regulation of the personal insolvency system and management of the $480 billion Personal Property Securities Register. He explained how AFSA applies regulation that is proportionate, purposeful and outcomes-focused, balancing firm action on systemic harms with support for Australians experiencing financial vulnerability.
He also emphasised collaboration across government regulators, enabling a responsive, whole-of-system approach to identify risks, share insights, and contribute to regulatory effectiveness.
Insights from APRA and ASFA
Margaret Cole shared APRA’s work to strengthen operational risk management, enhance cyber protections, and respond to systemic challenges such as the First Guardian and Shield Master Fund situations.
Mary Delahunty outlined ASFA’s progress on the National Retirement Income Strategy, shared insights from the recent economic reform roundtable, and highlighted the importance of financial literacy in helping Australians navigate retirement.
Panel outcomes
The discussion reinforced the value of strong, effective regulation and a coordinated approach to protecting financial wellbeing. By combining proportionate regulation, cross-regulator collaboration, and support for vulnerable Australians, the panel demonstrated how Australia’s regulatory system underpins long-term economic confidence and stability.
