Outgoing Australian Compliance Institute CEO Naomi Burley and Strategic and Engagement Consultant Carole Ferguson discuss the requirements of consolidating multiple member superannuation accounts under the SIS(ACT)through the lens of the Australian Securities and Investments Commission (ASIC)action against AustralianSuper.

Resources

ASIC sues AustralianSuper over multiple superannuation accounts: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-249mr-asic-sues-australiansuper-over-multiple-superannuation-accounts/

ASIC v AustralianSuper Concise Statement: https://download.asic.gov.au/media/tv1d2sli/23-249mr-concise-statement.pdf

ASIC warns super trustees to boost efforts to consolidate duplicate member accounts : https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-175mr-asic-warns-super-trustees-to-boost-efforts-to-consolidate-duplicate-member-accounts/

What are the limits of AI as a tool? What risks can AI pose to businesses?

KartaSoft CEO James Worsfold and KartaSoft Business Analyst David Golding explore key AI benefits, risks and misconceptions.

Resources

Safe and Responsible AI - https://assets.kpmg.com/content/dam/kpmg/au/pdf/2023/safe-and-responsible-ai-in-australia-report.pdf

NSW Artificial Intelligence Assurance Framework - https://www.digital.nsw.gov.au/policy/artificial-intelligence/nsw-artificial-intelligence-assurance-framework

ISO/IEC 23894 - https://aistandardshub.org/ai-standards/information-technology-artificial-intelligence-risk-management/

A Parliamentary Inquiry Into Generative AI Closed in July - https://www.aph.gov.au/Parliamentary_Business/Committees/House/Employment_Education_and_Training/AIineducation

Digital Platforms Regulators make Joint Submission on Safe and Responsible AI - https://www.oaic.gov.au/engage-with-us/submissions/dp-reg-joint-submission-safe-and-responsible-ai-in-australia-discussion-paper

KartaSoft: https://www.linkedin.com/company/kartasoft/?originalSubdomain=au

Australian Compliance Institute CEO Naomi Burley talks about what to expect from the International Federation Compliance Associations Congress 2023.

Register Now: https://thegrcinstitute.org/Events/eventdetail/2174

International Federation of Compliance Associations: https://www.ifca.co/

Adder Rock Consulting Richard Sheldon addresses delegation of duty in a continuously evolving regulatory ecosystem.

Podcast Notes

Financial Accountability Regime 2023: https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r6988

RBC: https://www.rbcroyalbank.com/personal.html

CPS 511: https://www.apra.gov.au/remuneration-requirements-for-all-apra-regulated-entities

CPS 230: https://www.apra.gov.au/sites/default/files/2023-07/Prudential%20Standard%20CPS%20230%20Operational%20Risk%20Management%20-%20clean.pdf

From Fires to Firewalls: APRA Member Therese McCarthy Hockey: https://www.apra.gov.au/news-and-publications/apra-member-therese-mccarthy-hockey-grc2023

About

Richard Sheldon is Risk, Governance & Compliance Specialist and a former Senior Executive of the world’s 10th largest Bank, Royal Bank of Canada. Richard has a 30-year track record of implementing AML, Compliance, Risk and Cultural programs to meet global regulations, optimising organisational structures, providing prudent advice and solutions to regulatory challenges. He has been instrumental in the development of risk, conduct & culture frameworks, reporting and governance structures to meet the increasing evidential obligations on financial institutions, including those relating to FAR, Whistleblowing, CPS 511 and CPS 230.

CCL Consultants Principal and and Australian Compliance Institute facilitator Bronwyn Gallacher talks about 10980NAT Graduate Certificate in Compliance & Risk Management - Weekly Delivery - Livestream

Register Now: https://thegrcinstitute.org/Events/eventdetail/2183

Course Information

This certificate has been designed exclusively for senior GRC professionals looking to further develop their skills for career progression to the most senior level. Throughout this principles-based course, participants will tackle scenario-based challenges and be encouraged to creatively apply the skills learned to relevant and topical issues. Those who successfully complete this course will have the skills to excel in leadership positions.

If you have completed the 10964NAT CertIV in Compliance & Risk Management, you only require an additional 3 years experience before completing this Graduate Certificate.

Mode of Delivery

- This course will be delivered on a weekly basis.

- 10 sessions in duration. There will be weekly tutorials each Monday night via

live stream, from 6:30pm-8:30pm (latest finish 9:00pm).

Register Now: https://thegrcinstitute.org/Events/eventdetail/2183

About the Facilitator

Bronwyn Gallacher is a CCRP (Fellow) Founder, Managing Director and Principal Lawyer of CCL Consultants Pty Ltd (CCL). Bronwyn is also ALDI Stores Code Arbiter under the Australian Food and Grocery Code of Conduct, Competition and Consumer Act 2010.

Australian Compliance Institute CEO Naomi Burley talks about GRC 2023 Conference and the upcoming IFCA Congress.

Podcast Notes

2023 IFCA Congress: https://thegrcinstitute.org/Events/eventdetail/2174

International Perspective on ESG: https://thegrcinstitute.org/Events/eventdetail/2173

CPS 230: https://www.apra.gov.au/sites/default/files/2023-07/Prudential%20Standard%20CPS%20230%20Operational%20Risk%20Management%20-%20clean.pdf

FAR: https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r6988

Consultation Commences on AML/CTF Reforms: https://www.austrac.gov.au/consultation-commences-amlctf-reforms

Podcast Notes

Australian Compliance Institute CEO Naomi Burley and Strategic Engagement Consultant Carole Ferguson address challenges related to non-disclosure agreements, conflicts of interest and reputational risk in the context of PWC and the Australian Tax Office.

Further Resources

Ziggy Switkowski AO to lead independent review of PwC Australia: https://www.pwc.com.au/media/2023/ziggy-switkowski-leads-pwc-independent-review.html

ATO says millions in annual tax could have been lost due to PwC confidentiality breaches:

https://www.abc.net.au/news/2023-02-16/australian-tax-office-million-scheme-pricewaterhousecoopers/101980548

Downfall and bankruptcy: https://www.britannica.com/event/Enron-scandal/Downfall-and-bankruptcy

Australian Compliance Institute CEO Naomi Burley talks about the GRC Conference: Step-Up.

Register Now: https://thegrcinstitute.org/Events/eventdetail/2139

GRC Institute CEO Naomi Burley and Strategic Engagement Consultant Carole Ferguson discuss greenwashing and the implications of the Australian Securities and Investments Commission’s (ASIC) litigation against Mercer and Vanguard Investments.

Mercer: First Court Proceeding in Greenwashing: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-043mr-asic-launches-first-court-proceedings-alleging-greenwashing/

Vanguard: ASIC commences Vanguard Investments: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-196mr-asic-commences-greenwashing-case-against-vanguard-investments-australia/

Info sheet 271: How to avoid greenwashing when offering or promoting sustainability-related products: https://asic.gov.au/regulatory-resources/financial-services/how-to-avoid-greenwashing-when-offering-or-promoting-sustainability-related-products/

Corporations Act 2001 Section 1013D: http://classic.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s1013d.html

Corporations ACT 2001 Section 1013DA: http://classic.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s1013da.html

Regulatory Guide 65 1013DA Disclosure Guidelines: https://asic.gov.au/regulatory-resources/find-a-document/regulatory-guides/rg-65-section-1013da-disclosure-guidelines/

Greenfluencers: https://www.forbes.com/sites/solitairetownsend/2022/12/09/greenfluencers-how-social-media-creators-are-becoming-sustainability-superheroes/

In this episode, GRC Institute ( soon to be the Australian Compliance Institute) CEO Naomi Burley discusses the reasons behind the upcoming name change, the new website, the Annual GRC Conference 2023 and the International Federation Compliance Associations (IFCA).