APRA defends stance on alleged corruption

A federal government watchdog admits it's not in a rush to tackle alleged union corruption in some industry superannuation funds.

Instead, the Australian Prudential Regulation Authority is relying on other agencies which have more direct powers to address criminality.

APRA chief Wayne Byres made the admission during an exchange with Liberal MP Kelly O'Dwyer during a hearing of the House of Representatives economics committee in Canberra on Thursday.

Ms O'Dwyer, who chairs the committee, said the royal commission into union corruption had identified instances of very serious concerns in some funds.

"APRA does not need to wait until the conclusion of the royal commission in order to go in and do a deep dive into those organisations," she said. "Is APRA doing that?"

Mr Byres said there were serious allegations being investigated by a wide range of agencies.

"We think the issue is well understood and being dealt with," he said.

"We don't see a need to rush in and trip over everyone else."

Mr Byres denied APRA was not interested in allegations of corruption.