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From the Archives: Cyber Risk Management Expectations: ASIC

Friday 30 September 2022

 


Directors will be held accountable for cyber risk management.   

This week Australian Securities and Investments Commission (ASIC) Commissioner Daniel Press wrote in an article published on the regulator’s website and The Company Director, “ASIC expects directors to ensure their organisation’s risk management framework adequately addresses ...

By Kwame Slusher

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Podcast: Optus Breach & Cyber Resilience

Friday 30 September 2022

 

GRC Institute CEO Naomi Burley & Strategic and Engagement Consultant Carole Ferguson address the challenges of cyber resilience in light of the recent Optus data breach.


Resources:

The 4 Cs
 
Court finds RI Advice failed to adequately manage cyber risks
 
Optus Cybe...

By Kwame Slusher

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Updated Remediation Guidance

Friday 30 September 2022


 

Licensees must do better with remediation.

This is the call from the Australian Securities and Investments Commission (ASIC) this week with the publication of an expanded remediation guidance--RG 277: Consumer Remediation.

ASIC Deputy Chair Karen Chester said in an official statement, “The common stumbling block we have seen across remed...

By Kwame Slusher

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Credit Code Review, Data Breach

Friday 23 September 2022




This week proposals to the strengthen protections around the handling of consumer data.

This comes after a major review conducted by the Office of the Australian Information Commissioner (OAIC) looking at Privacy(Credit Reporting) Code 2014.

OAIC Commissioner Angelene Falke  said in a formal statement, “The way Australians’ personal infor...

By Kwame Slusher

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This week in penalties...19 September-23 September

Friday 23 September 2022


 
$14 million in penalties for fees for-no-service

This week the Federal Court ordered five companies that were part of the AMP group to pay $14. 5 million for the fees for no service.   

The Australian Securities and Investments Commission (ASIC) Deputy Commissioner Sarah Court said in formal statement this week, “ Superannuation trustees s...

By Kwame Slusher

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Standards and Regulation to counter ‘greenwashing’?

Wednesday 21 September 2022




The Australian Competition and  Consumer Commission (ACCC) could be considering clearer standards and regulations to ensure that ensure that consumer confidence is not undermined by allegation of ‘greenwashing’.

This is from speech given by ACCC Deputy Chair Delia Rickard speaking at the Sydney Morning Herald Sustainability Summit. 

“To i...

By Kwame Slusher

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What we have been watching & listening to…fraud, aviation risk, data breaches

Monday 19 September 2022


 

Documentaries

Last week we highlighted Money Men, Dan McCrum’s story about how scooped the Wirecard fraud story, for more on this watch Skandal! Bringing Down Wirecard.
 
Flight/Risk looks at the human cost of the Boeing 737 crashes and ensuing reputational damage to one of the largest names in the aviation industry. 
 
Podcasts

 The...

By Kwame Slusher

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What we are reading & listening to...climate litigation, the merge, Wirecard fraud

Wednesday 14 September 2022

 



Climate Related Litigation

Who’s Gonna Save Us catches up with cross section climate change activists. One of the things this podcast charts is the rise of the sue climate change related litigation to stymy or to stop current and new oil and gas projects.

 
Climate Change and the Ethereum

The Merge in Ethereum—moving the from proof...

By Kwame Slusher

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Podcast: IFCA International Compliance Conference

Wednesday 14 September 2022



This October is Compliance Professionals Month and it will kick off with The IFCA International Compliance Conference!
 
GRC Institute CEO Naomi Burley talks a little about the layout of this event.


 
Resources
 
...

By Kwame Slusher

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Consultation: FAR Bill 2022

Wednesday 14 September 2022



Stakeholders will have until 7 October to have their say  on the draft legislation of the Financial Accountability Regime (FAR).

Financial Accountability Regime Bill was reintroduced to parliament as the Financial Accountability Regime Bill 2022 on 8 September and was moved to second reading on the day.

Assistant Treasurer and Minister for ...

By Kwame Slusher

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