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The Final Remuneration Standard

Friday 27 August 2021


 

Two years after the consultation began this week saw of the final version of the prudential standard for remuneration. 

At the time when the consultation began back in 2019 Australian Prudential Regulation Authority Deputy Chair the John Lonsdale said in an official statement, “Remuneration and accountability frameworks play an important ro...

By Kwame Slusher

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Podcast: Vaccine Policies & Compliance

Friday 27 August 2021


People + Culture Strategies founder and Managing Director Joydeep Hor talks about how Australian companies should consider approaching  their vaccination policies.  

To learn more about People + Culture Strategies click here.  


 

...

By Kwame Slusher

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This Week in Penalties 23 August-27 August

Friday 27 August 2021




Former financial adviser Lawrence Toledo has been charged for breaching an existing seven year banning order. 

The Australian Securities and Investments Commission (ASIC) made three allegations against Toledo:
  • providing financial advice to a SMSF to invest in Premier Realty Group Pty Ltd;
  • arranging the sale of a financial produ...

By Kwame Slusher

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Regtech & Meeting the DDO Obligation

Thursday 26 August 2021



Regulation
 
This week was the penultimate RegTech Liaison for the year, which had over 100 attendees. 

In her opening address of ASIC commissioner Cathie Amour highlighted that yet again this gathering would look at the barrier and opportunities of using technologies to help meet regulatory expectations and monitoring.

With the Design an...

By Kwame Slusher

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Compliance Entrepreneurs’ Handbook Review

Thursday 26 August 2021

Recommended Reading



 
  
“While you are still in-house, you want to start thinking about how to make the jump and how to have a successful business.”


Review 
 
There is no time like a pandemic for compliance professionals to take stock and see what they can improve, or even make a change. 

In those jurisdictions that are still in...

By Kwame Slusher

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Ransomware a Rising Concern

Monday 23 August 2021




You can read the latest OAIC data breach report here.

 The Office of the Australian Privacy and Information Commissioner (OAIC) has released their latest statistics and has flagged ransomware as the major cause for concern for Australians.

In a formal statement this week the OAIC commissioner Angelene Falk said, “The nature of these attac...

By Kwame Slusher

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This Week in Penalties 16 August-20 August

Friday 20 August 2021




The Australian Securities and Investments Commission (ASIC) Duncan McLeod has been disqualified from managing companies for 5 years for his involvement in the failure of two companies.

 
The Australian Securities and Investments Commission (ASIC) announced former Halifax Auditor the Robert James Evett must pay $10 000, and the EC Audit mu...

By Kwame Slusher

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Credit Risk Management Guidance

Friday 20 August 2021





This week saw the release of the final prudential credit risk management guide.

This comes two years after the regulator made announcement to its regulated entities that it was seeking to ‘modernise’ its cred risk management guidance. 

The APG 220 which is intended to help authorised deposit taking agencies to make ‘prudent lending deci...

By Kwame Slusher

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FX Code & Financial Markets

Friday 20 August 2021






Four years on the code the FX code pf conduct remains fit for purpose. 

This week Assistant Governor Christopher Kent of the Reserve Bank of the Australia (RBA) addressed the updates to the FX code of conduct last month after the being launched four years ago. 

“A consistent theme of the feedback was that the Code remained fit for pur...

By Kwame Slusher

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Austrac Improving User Experience

Friday 20 August 2021






The Australian Transaction Reports and Analysis Centre (AUSTRAC) systems transformation program has identified four key pain points based on feed back on recent survey:
  • The design of the suspicious matter reporting (SMR) report and process (priority issue of 44% of REs)
  • User Experience (UX) and User Interface (UI) navigation (...

By Kwame Slusher

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