APRA may be an unworthy agent of consumer interests, at least when it comes to MySuper products, counsel assisting have explained to Kenneth Hayne's royal commission into misconduct in financial services.One way of increasing external pressure in relation to MySuper products "might be to require a putative MySuper product to meet an outcomes test in order to be authorised as, and to retain authorisation as a MySuper product," counsel wrote in submissions published on Friday."That change would reflect the philosophical premise of MySuper products: a simple and effective superannuation product for the majority of Australians who are disengaged. "It might also reflect the intention to introduce an outcomes test for MySuper products."Such a change, however, "would require the nomination of a body to apply the outcome filter to MySuper products," the submission cautioned, then asked: "Is the appropriate body APRA?" "APRA is presently the body tasked with authorising MySuper products. However, it may be thought that given potential conflicts in objectives for APRA (including between, on the one hand, maintaining stability and, on the other hand, encouraging competition and discouraging misconduct) and the closeness between APRA and those it regulates by virtue of its supervision model, that it would preferable for a separate expert panel to apply an outcomes filter."Championing the expert panel model, counsel asked "if there was to be such an outcome requirement, would it mean that a panel would need to review regularly outcomes for already authorised MySuper products and have a process for removing authorisation from underperforming products?"Is it a problem to compare the performance of all MySuper products against a benchmark calculated against the median asset allocation across all MySuper products? "Describing those products as underperforming without further analysis to measure performance against a tailored benchmark is inaccurate."