The Australian Prudential Regulation Authority (“APRA”) has released for consultation a discussion paper introducing its proposals for prudential standards for the superannuation industry. This paper outlines the range of topics to be covered in prudential standards and the key requirements APRA expects to include in each standard. APRA intends to introduce prudential standards covering matters common to other APRA-regulated industries — on Governance, Fit and Proper, Risk Management, Business Continuity Management, Outsourcing, and Audit and Related Matters - as well as the superannuation-specific matters of Conflicts of Interest, Investment Governance, Insurance in Superannuation, Defined Benefit Funding and Solvency, and Operational Risk Financial Requirement.