by GRC Essentials | Nov 21, 2023 | Uncategorized
AUSTRAC Issues New Guidance to Enhance AML/CTF Compliance Post Data Breaches The Australian Transaction Reports and Analysis Centre (AUSTRAC) has released important guidance to assist organisations under its oversight in meeting their Anti-Money Laundering and...
by GRC Essentials | Sep 12, 2023 | Uncategorized
Experienced Financial Adviser Registration Pathway The passage of the Treasury Laws Amendment (2023 Measures No. 3) Bill 2023 has introduced changes to the regulations governing financial advisers in Australia. Specifically, it has created a pathway for experienced...
by GRC Essentials | May 24, 2023 | Uncategorized
Sole-Purpose Test In July 2021, requirements were introduced regarding the deduction of advice fees from superannuation accounts – these are widely known as the Sole Purpose Test. In June 2021, ASIC and APRA sent letters to the trustees of superannuation funds to...
by GRC Essentials | Apr 21, 2023 | Uncategorized
Financial Crime The primary topic area of this month’s update is financial crime. We will look at the FATF updates on global ML/TF risk, including changes to country classifications, and look at the top four financial crime trends for 2023 as outlined in the State of...
by GRC Essentials | Mar 29, 2023 | Uncategorized
In the October 2022 federal budget, the government allocated $2.7 million for the Treasury to support reviews of the Reserve Bank and the regulatory framework for managed investment schemes (MIS). Earlier this month, the government announced that it would launch a...
by GRC Essentials | Mar 28, 2023 | Uncategorized
As participants in the financial services industry, it is important to understand the powers and responsibilities of ASIC. At a high-level, ASIC’s role is to ensure that Australia’s financial markets are fair and transparent. They regulate Australian corporations,...
