©2018-2019 by The GRC Institute - Governance, Risk & Compliance.  ABN: 42862119377

December 19, 2019

This month, the Australian Prudential regulator announced it would be delaying consultation on product responsibility proposed in the extension of the Banking Executive Accountability Regime (BEAR).

In a letter to industry, APRA wrote, “At this stage, APRA is reviewing...

December 12, 2019

This article was originally published in the Conference Edition of the GRC Professional Magazine.

Before Adele Ferguson’s hotly-anticipated book, Banking Bad, was available in stores at the start of August, the GRC Professional Magazine was able to catch up with her to...

December 9, 2019

The same week the Government announced the reintroduction of mandatory comprehensive reporting back into parliament, the Australian Securities and Investments Commission (ASIC) has released an updated version on their responsible lending guidance.

In an official stateme...

December 9, 2019

The Australian Competition and Consumer Commission (ACCC) has commenced proceedings against the Tasmanian Ports Corporation (TasPorts), its first case to be tried under the amended misuse of market power provisions.

The ACCC alleges that TasPorts sought to prevent Engag...

December 9, 2019

Last week saw the re-introduction of mandatory comprehensive credit reporting into Parliament.

A statement from the Government said that the National Consumer Credit Protection Amendment (Mandatory Credit Reporting and other Measures) Bill 2019 introduces:

  • A new cate...

December 5, 2019

Many risk and compliance professionals will be familiar with the three lines of defence model, deployed with often varying degrees of rigour and success in many organisations.

Recently, Commissioner Karen Chester from the Australian Securities and Investments Commission...

December 5, 2019

Last week, the Australian Securities and Investments Commission (ASIC) released an updated version of Regulatory Guide 97 Disclosing Fees and Costs in PDSs and Periodic Statements.

The regulator noted that the legislative instruments accompanying the guide are now ‘more...

December 5, 2019

The Australian Securities and Investments Commission (ASIC) released their report on financial advice related to the superannuation industry and found that, generally, advice has been ‘appropriate’. 

According to the statement from the corporate regulator, they surveyed...

November 28, 2019

This article was originally published in the Conference 2019 Edition. Click here to log into the website and download your member copy on the GRC Institute News Page.   

In 2014, investigative journalist Adele Ferguson hosted Banking Bad, an episode of ABC sho...

November 27, 2019

New Zealand’s Financial Monetary Authority (FMA) released a report last week showing that the generally audit quality has improved but ‘the challenge of inconsistencies persist’.

In an official statement that accompanied the report’s release, the FMA expressed concern t...

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