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Insider Trading

Friday 7 May 2021

 

Westpac could be in trouble with insider trading and unconscionable for their role in interest swap rate back in 2016. 

 

This week Australian Securities and Investments Commission (ASIC) announced that it has commenced civil proceedings against Westpac for its role in the interest rate swap transaction.

 

An official st...

By Kwame Slusher

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Whistleblowing

Friday 7 May 2021



Podcasts we’ve been listening to:

Effective whistleblowing channels are essential in capturing wrongdoing in an organisation before it becomes a public relations nightmare. 
 
But how do you know if you are getting it right and are you just creating a culture that is likely to deter your staff members when they are faced with wrongdoi...

By Kwame Slusher

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Make Privacy Priority

Friday 7 May 2021



Though Privacy Awareness Week (PAW) has come to end the need to Make Privacy Priority (the theme for the year’s PAW) continues to be important for individuals and organisations.
 
https://www.oaic.gov.au/s/paw2021/
 
 

By Kwame Slusher

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Podcast: Defining Role Clarity

Friday 30 April 2021

General Counsel and Chief Administration Officer, Chubb Life at Chubb Group of Insurance Companies, Annette Donselaar breaks down the concepts of the three lines of responsibility and role clarity.

By Kwame Slusher

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Claims Handling and Settling Requirements

Friday 9 April 2021



The Australian Securities regulator reminds regulated entities that as of 1 January of this claims handling and settling and ‘financial service’ and covered by the Australian Financial Services License (AFSL). 
 
Australian Securities and Investments Commission (ASIC) also reminds that if entities have to lodge a complete 30 June they will be i...

By Kwame Slusher

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Facing the Challenges of Consumer Credit Insurance

Friday 9 April 2021


The latest commencement of proceedings against Westpac is just the latest chapter with the securities regulator on consumer credit insurance (CCI). 
 
“In addition to our enforcement action, ASIC has secured over $250 million of remediation for the consumers harmed by the practices of the offending lenders. The CCI remediation program covers 11 m...

By Kwame Slusher

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MIsleading and Deceptive Conduct

Friday 9 April 2021



The Federal Court of Australia has ordered CBA to pay $ 7 million for misleading representations and conduct. 
 
The allegations made by the securities regulator Australian Securities and Investment Commission (ASIC):
 
  • provided customers with terms and conditions for certain credit facilities that stated an interest rate to be charged...

By Kwame Slusher

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Podcast: Licensing Variations

Friday 9 April 2021

From the Archives:

In this second edition of the 'meeting your basic obligations' series,  GRCI's own Strategic Stakeholder and Engagement Consultant Carole Ferguson and Managing Director Naomi Burley talk about licensing variations and some of the thin...

By Kwame Slusher

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Podcast: AML & Financial Crimes Wrap-up

Thursday 1 April 2021





The GRC Professional Podcast takes a quick at the AML & Financial Crimes Congress 2021.

By Kwame Slusher

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ASIC & Regulatory Risk

Friday 26 March 2021




GRC Institute Managing Director Naomi Burley and Strategic Engagement Consultant Carole Ferguson look at the growing regulatory risk coming from ASIC.

By Kwame Slusher

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