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Not so FAR now: The Financial Accountability Regime

Friday 28 January 2022



Last year  the Australian Securities and Investment Commission (ASIC) highlighted the Financial Accountability Regime (FAR) as one of their priorities for the supervision of market intermediaries.

On Thursday, the Australian Prudential Regulation Authority ( APRA)Executive Director Sean Carmody addressed Senate Economics Legislation Committee ...

By Kwame Slusher

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International Data Privacy Day

Friday 28 January 2022



Because it is International Data Privacy Day, we thought we’d share few privacy related pieces from the archive.
 
The Archive

Are you GDPR Compliant?  https://thegrcinstitute.org/news/view/2990

Podcast: The Future of the Privacy Compliance  https://thegrcinstitute.org/news/view/3005
 
Published before the NDB came into effect:
Are yo...

By Kwame Slusher

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What we’ve been listening to…

Friday 28 January 2022


 

This week is Cautionary Tales while, it is not a GRC industry podcast, the episode titled The Mummy’s Curse tackles the issue of the selection bias and how that can perpetuate false narratives. 




By Kwame Slusher

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The many flavours of failing in director’s duties

Friday 28 January 2022


 
This week saw three  media releases from the Australian Securities and Investments Commission (ASIC) on directors meeting expectations.

Westpower director Raita Konita Pakoti, also known as Rachel Edwards, made 175 withdrawals from the employment company between February 2009 to the end of January 2016. The total withdrawn  amounted to more t...

By Kwame Slusher

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Podcast: Culture in ISO 37301

Monday 24 January 2022


GRC Institute CEO Naomi Burley talks about GRCI/ Deloitte webinar held last year titled Culture of (and beyond ) compliance, which looked at the implications of the explicit mention of culture in the new ISO37301. A recording of the webinar will be avai...

By Kwame Slusher

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Consultations--17-21 January

Friday 21 January 2022




Australian Prudential Regulation Authority
This week the Australian Prudential Regulation Authority (APRA) published an update to the Reporting Standard ARS 115.0 which should simplify reporting requirements for the authorised deposit-taking institutions(ADI) by making the reporting annual.

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Australian Securities and Investments C...

By Kwame Slusher

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Fine for not Breach reporting in a timely manner

Friday 21 January 2022


 
Last September  the Australian Securities and Investments Commission (ASIC) Commissioner Karen Chester said that the update to the breach reporting guidance was to improve quality and timeliness of breach reporting. 

“ASIC analysis in 2018 revealed it took more than 4 years (on average) for large financial institutions to identify incidents t...

By Kwame Slusher

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Higher Penalties for Employsure?

Friday 21 January 2022



The Australian Competition and Consumer Commission (ACCC) are appealing for  Employsure  to have a $5 million penalty instead of the initial $1 million penalty for  misleading representations through Google ads.

ACCC Deputy Chair Mick Keogh said in an official statement, “We believe a higher penalty is necessary and appropriate having regard t...

By Kwame Slusher

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What we're Listening to...17-21 January

Friday 21 January 2022





While we anxiously awaiting the release of Nathan Lynch’s new book, The Lucky Laundry, we have been listening to the Dark Money Files which, in two parts, takes a deep dive into the recent breaches involving NatWest and the ‘Bradford Laundromat.’  


The Dark Money Files
NatWest  and the Bradford Laundromat -part1 & part 2 

...

By Kwame Slusher

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Podcast: New Director, Elizabeth Sheedy

Wednesday 19 January 2022

New GRC Institute Board Member Professor Elizabeth Sheedy talks about her professional journey and the importance of behavioural science.

Notes
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By Kwame Slusher

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