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Regulatory Round-Up from GRC 2021

Friday 29 October 2021





The first day of the GRC 2021 Conference the Raising the Bar had regulatory line up sharing the insights on what they have been working on what they expect from their reporting and Regualted entities the now and in the future:
 
Representing the Australian Securities and Investments Commission was Institutional Supervision team leader Sunee...

By Kwame Slusher

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Three Lines of Accountability Paper

Friday 29 October 2021

 


The GRC Institute launched a paper on the three lines of accountability on the first day of the GRC2021 Virtual Conference will be officially. 

The first speaker, and chair of the committee that authored the paper, GRC Institute Director Annette Donselaar told attendees of the GRC2021 Conference said that the word ‘defence’ was dropped from...

By Kwame Slusher

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This week in Penalties 25 October – 29 October

Friday 29 October 2021


 
Former Director Ross Dunkley been sentenced to community correction order for the three counts of dishonestly using his position for personal advantage. 
 
The Australian Securities and Investments Commission (ASIC) charged former director of Knight & Day Eating Timothy Lee Knight for misleading statement to the regulator of having no outstand...

By Kwame Slusher

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The GRC Institute Awards List

Friday 29 October 2021

 



Lifetime Member Award: Deborah Latimer
 
Risk Management Team of Year Award: Accepted by Jo Canavan on behalf of Suncorp
 


Graduates for the 10964NAT Certificate IV in Compliance & Risk Management
  • Bliss Betonio
  • Brendan Grigg-Harriot
  • Douglas Mackay
  • Emma Breward
  • Evangeline Quiroz
  • Fransisco Wahed
    • ...

By Kwame Slusher

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More on Remuneration

Friday 22 October 2021




The Australian Prudential Regulation Authority (APRA) has published guidance for the prudential standard in remuneration set to take effect in 2023.    

 “Effective implementation of CPS 511 will strengthen the resilience of the financial sector and rein in the kinds of poorly designed remuneration practices that have damaged community trust...

By Kwame Slusher

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Extending the Product Intervention Order on CFDs

Friday 22 October 2021




 
Should the product intervention order against contracts of difference be extended?
This week the Australian Securities and Investments Commission (ASIC) published a consultation paper proposing the extension of the CFD for retail clients until 2031. 
The regulator is seeking feedback from industry before the end of November. 

The curren...

By Kwame Slusher

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This week in Penalties 18 October -22 October...

Friday 22 October 2021


Former financial adviser Ashok Sherqwal has been banned from the industry for 6 years for providing advice not the appropriate for his clients and failed to meet the additional disclosure obligations. 


 
Former Director of Spectrum Wealth Mark Schroeder has been banned from providing financial services for six years for numerous compliance ...

By Kwame Slusher

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Podcast: Director Profile with Craig Greenwood

Monday 18 October 2021




GRC Institute Director Craig Greenwood talks about his compliance journey, the challenges of remote compliance and the importance of leveraging experience of veteran compliance professionals.


Events

GRC2021 Conference

By Kwame Slusher

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Podcast: What's Your Whistleblowing Framework Look Like

Friday 15 October 2021

From the Archives: 


Before the new whistleblower legislation in 2019 the GRC Professional Podcast caught up with Nathan Luker from Your Call to talk about whistleblowing frameworks and the importance of having a culture of speaking out.

By Kwame Slusher

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Check Your Whistleblower Policies

Friday 15 October 2021





The Australian securities regulator is concerned that the Australian may not have robust enough whistleblower policies.  
 
In a formal statement this week, the regulator said, “ASIC reviewed a select sample of whistleblower policies and is concerned the majority of those policies did not fully address the relevant requirements.”
 
This c...

By Kwame Slusher

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