It’s fair to say the Australian Prudential Regulation Authority has a famously low appetite for risk when it comes to the way banks and super funds run their businesses. While this conservative streak can frustrate executives and stoke perceptions that it tempers innovation, the bank regulator can’t be accused of not taking its job seriously.Tensions between the regulator and financial institutions have re-erupted over APRA’s decision to stick with a strict 12-year limit for directors of banks, insurers, and super funds. Boards are able to approve a single-year extension as long as they are notified.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles