News
Sydney Morning Herald
The Sydney Morning Herald (SMH) reported that AMP has ‘misled’ the Australian Securities and Investments Commission (ASIC) on twenty occasions.
The SMH also reported that AMP interfered with the drafting of an independent report.
Michael Hodge QC revealed to the royal commission that Clayton UTZ, commissioned to ...
By Kwame Slusher
Money Management
Money Management reports that robo-advice is growing amongst millennials; however, it is older Australians who provide a key opportunity for robo-advice operators.
A survey of 10,000 online investors and 1,425 financial advisers, conducted in eight countries, found that 22 percent of Australian share investors were famili...
By Kwame Slusher
* This article has been republished from Bright Law with the permission of David Jacobson
By David Jacobson
If you’ve been watching the Financial Services Royal Commission live streaming of evidence it’s clear that the financial institutions giving evidence have trouble complying with “soft” laws.
By “soft” laws I mean principle-base...
By Kwame Slusher
Regulation
The Thomson Reuters Australian Regulatory Summit began by establishing the challenge organisations have with meeting regulatory obligations—demonstrated by the fact that, when polled, 81% of attendees admitted to suffering from regulatory fatigue.
In his keynote address, David Coleman MP talked about ‘good’ regulation and ‘bad’ re...
By Kwame Slusher
Financial Crime
The question of when DNFBPs will be captured in the Australian regulatory frameworks is still up in the air.
For the attendees of the Thomson Reuters Australian Regulatory Summit, perceptions were mixed, with 40% of the belief tranche 2 implementation in Australia will improve the current regulatory regime by covering previou...
By Kwame Slusher
* Click here to download a PDF version of this article.
This article was originally publisjhed in the GRC Professsional: Financial Crime 2018 Edition
By Gareth Byatt and Lloyd Figgins
Acts of terror continue to take place around the world. What can businesses do to prepare for a terrorist incident that may impact their people and...
By Kwame Slusher
News Summary
The Financial Review recently reported that two business premises raided in connection multi-million dollar fraud committed by a former NAB employee.
Andrew Thorburn, NAB CEO, said that the bank was cooperating with the police and that no customers were impacted by the fraud.
"This matter has been investigated by us, and wa...
By Kwame Slusher
Technology
The responsibility of technology and strategic technology risk rests in the domain of governance. Yet less than 10% of board members in Australia and Canada have technology experience.
“That means 90% of the people who are making decisions about future strategies have no real background in technology,” said Patrick McConnell, in...
By Kwame Slusher
Two auditors from the self-managed superannuation fund (SMSF) industry have been disqualified for breaches.
Robert Newham, from the Australian Capital Territory (ACT), was disqualified for breaching independence and professional development requirements, and John Tretola, from South Australia (SA), has also been disqualified for breaching inde...
By Kwame Slusher
This article was originally published in the GRC Professional: Financial Crime 2018 Edition. Click here to download a PDF version of this story.
by Andrew McLeish
When the first whistleblower legislation was introduced in 2001 – The Whistleblower Protection Act 2001 (Vic), the aim of the Act was to afford a person the ultimate protection ...
By Kwame Slusher
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