Jun 16, 2026 – 4.18pmThe financial services regulator will persist with tough new tenure limits for non-executive directors at some of the country’s largest institutions, despite criticism from companies and unions who claim the watchdog has overstepped its brief and provided little evidence to justify the revamped rules.Australian Prudential Regulation Authority chairman John Lonsdale said its latest update on contested governance reforms “sought to strike the right balance between safety and efficiency” for banks, insurers and super funds.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles