Trump Administration Sued Over Suspension of Critical Hudson River Tunnel Funding 
China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
Asian Markets Wobble as AI Fears Rattle Stocks, Oil and Gold Rebound 
Asian Currencies Trade Sideways as Dollar Stabilizes, Yen Weakens Ahead of Japan Election 
Oil Prices Climb as Middle East Tensions and U.S. Inventory Data Boost Market Sentiment 
U.S. Stock Futures Rise as Investors Eye Big Tech Earnings and AI Momentum 
India Services Sector Rebounds in January as New Business Gains Momentum: HSBC PMI Shows Growth 
U.S. Stock Futures Edge Lower as Tech and AI Stocks Drag Wall Street Ahead of Key Earnings 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
Paul Atkins Emphasizes Global Regulatory Cooperation at Fintech Conference 
Gold, Silver, and Platinum Rally as Precious Metals Recover from Sharp Selloff 
Gold Prices Rebound Near Key Levels as U.S.-Iran Tensions Boost Safe-Haven Demand 
Asian Currencies Strengthen as Indian Rupee and Australian Dollar Rally 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Oil Prices Steady as Markets Weigh U.S.-Iran Talks, Dollar Strength Caps Gains 
Stephen Miran Resigns as White House Economic Adviser Amid Federal Reserve Tenure 
S&P 500 Rises as AI Stocks and Small Caps Rally on Strong Earnings Outlook 
Australia’s corporate regulator has warned the country’s rapidly expanding pension fund industry that it must significantly increase investment in systems, technology, and governance to safeguard its future and avoid problems similar to those faced by the Australian Securities Exchange (ASX).
The Australian Securities and Investments Commission (ASIC) said the superannuation sector, currently valued at around A$4.5 trillion, is projected to grow to A$6 trillion by 2030. At that level, Australia’s pension fund industry would surpass the nation’s banking system in size, making it a critical pillar of the financial system and increasing the importance of operational resilience, technology capability, and strong governance frameworks.
ASIC Commissioner Simone Constant warned that some superannuation funds may not be adequately prepared for the scale and complexity that lies ahead. As more Australians retire and begin drawing down their retirement savings, pension funds will face growing pressure on their systems, data management, and operational capacity. Constant pointed to the ASX as a cautionary example, noting that inadequate technology investment and a failure to adopt a forward-looking approach had contributed to ongoing operational issues.
The ASX has faced years of criticism following a failed software upgrade and repeated trading system disruptions. In December, ASIC imposed an additional A$150 million capital charge on the exchange after an inquiry raised concerns about its ability to operate secure and resilient market infrastructure. Regulators have questioned whether the ASX has kept pace with its critical role in Australia’s financial markets.
Meanwhile, the Australian Prudential Regulation Authority (APRA) has also raised concerns about governance weaknesses within the superannuation and wealth management sector. APRA Deputy Chair Margaret Cole said recent collapses of managed investment schemes highlighted deficiencies in investment governance, particularly around onboarding and monitoring of investment options offered to members. These failures resulted in financial losses for retirees who transferred their savings into the affected products.
Regulators have previously urged the pension fund industry to accelerate preparations for an estimated 2.5 million Australians expected to retire over the next decade. With retirement savings playing an increasingly central role in financial stability, authorities say stronger technology, governance, and operational practices are essential to protect members and the broader economy.
