APRA investigating Diversa over exec remuneration

Mike Taylor

Managing Editor and Publisher

25 June 2026

The Australian Prudential Regulation Authority (APRA) has announced that it has started an investigation into the executive remuneration decision-making and processes of Diversa Trustees Limited.

Barely a week after Diversa announced it had filed its defence with respect to action initiated by the Australian Securities and Investments Commission around the collapse of First Guardian, APRA said its investigation will consider whether Diversa has complied with its regulatory obligations.

In particular, APRA will investigate whether remuneration decisions were made in accordance with APRA’s prudential standards and trustees’ duties under the SIS Act.

APRA Chair John Lonsdale said: “Prudent remuneration practices play a critical role in driving sound governance and protecting the best financial interests of superannuation fund members.

“APRA expects superannuation trustees to ensure remuneration decisions reinforce accountability and appropriately reflect risk and performance outcomes, particularly in circumstances where member outcomes may have been adversely affected.”

The investigation will not consider whether Diversa is responsible for member losses arising from the collapse of First Guardian, which is currently the subject of ASIC’s proceedings in the Federal Court.

Responding to APRA’s announcement, Diversa issued the following statement:

“Diversa always puts our trustee responsibility and nembers’ best financial interests at the centre of our decisions.

“We work closely with our regulators and stakeholders to demonstrate how we put that responsibility into practice, including the information and processes we use to make decisions.

“Diversa is confident that all of its remuneration decisions were made in accordance with APRA’s prudential standards and trustees’ duties under the SIS Act.

“We are working collaboratively with APRA on this matter, and are confident any concerns can be resolved quickly.”