OnePath Custodians Pty Limited respond to APRA Media Release on 22 July 2024. The following can be attributed to a spokesperson for OnePath Custodians Pty Limited:

OnePath Custodians (OPC) confirms APRA has accepted its enforceable undertaking in relation to accrued default amount and default superannuation contribution issues. OPC acknowledges APRA’s concerns as set out in that undertaking and will complete various steps including the engagement of an expert to review remediation and rectification work. It has also paid infringement notices totalling $10.7 million. The enforceable undertaking and payment of the infringement notices resolves APRA’s concerns on these issues. OPC remains committed to the ongoing work to uplift its governance.