James Lai

#ASIC needs to find a way to share the detailed results of its #audit inspection program to allow a frank assessment of audit quality in Australia. afr.com/companies/prof…

#ASIC will force companies to ditch products that are too complex, provide simpler advice and better understand their customers to help treat them fairly. #governance #regulation afr.com/companies/fina…

The latest Accelerated AML/CFT Compliance Programs! amlaccelerate.com/blog Thanks to @SafariSara @MEETIG8 @GAN_Integrity #aml #financialcrime

A study of US workers has found that people working from home have the highest median income, earning AUD 2800 more a year than those who commute to work. #remotework #gigeconomy afr.com/work-and-caree…

#Westpac has committed 9 years of breaches of anti-money laundering laws. It seems likely, writes the AFR Chanticleer, that #AUSTRAC will take them straight to court instead of negotiating a direct settlement. #AML #compliance afr.com/chanticleer/we…

What did putting boards onto the psychologist's couch tell us? Not much writes Justin O'Brien in this #AFR opinion piece. #governance #riskculture afr.com/policy/economy…

In a report released today, Director and officer oversight of non-financial risk, ASIC identifies where improvements can be made to lift governance practices, particularly in relation to compliance risk. Read more: #EDU2019" target="_blank" rel="nofollow noopener">asic.gov.au/about-asic/new…

"Effective oversight and management of non-financial risk is not novel or impossible. Companies have managed some of these risks well in the past and continue to do so today – as is the case with safety risk." - James Shipton, ASIC Chair #EDU2019

#ASIC Taskforce on Corp Gov finds directors at some comp have limited time for unstructured discussion, are approaching ethical questions from the wrong angle, are operating without sufficient “psychological safety”, and are suffering from unconscious bias afr.com/chanticleer/as…

#ASIC has released its so-called seminal report, urging companies to apply a greater focus and sense of urgency to the oversight and management of non-financial #risk. #compliance asic.gov.au/about-asic/new…

#AUSTRAC has warned pubs and clubs, money remitters and fintechs offering payment services to “harden” their technology systems to help protect against organised crime #regulation afr.com/companies/fina…

#ASIC's new product intervention power has been challenged in a bold legal move that could prove a significant loss for the regulator, according to legal experts. #regulation afr.com/companies/fina…

The quality of corporate audits by the big four firms, along with their ability to detect and report fraud and misconduct, is being scrutinised as part of the federal auditing inquiry. #risk #governance afr.com/companies/prof…

PayPal under investigation over 'concerns' it may have breached financial crime laws. bit.ly/2mbkU4b

After ASIC and APRA fail to win two high-profile cases, financial institutions can't be certain what the law is either #regulation #compliance afr.com/companies/fina…

“We need to strike the right balance between regulatory and #compliance obligations, and growth and #innovation as core goals essential to our national prosperity,” says AICD chief executive Angus Armour. afr.com/technology/com…

The approach of top corporate boards to tackling #risk and #culture is "chalk and cheese", organisational expert Elizabeth Arzadon will warn in a "seminal" report to be released by #ASIC. afr.com/work-and-caree…

#ASIC can now match it with the big boys in corporate law, with an expanded budget and a determination to prosecute cases raised in the #HayneRC. #compliance afr.com/chanticleer/as…

Top lawyers have warned that #ASIC and the government could pay a steep price if they persist with an ambitious deadline for implementing the #HayneRC recommendations. #compliance afr.com/companies/prof…

#ASIC is planning a litigation blitz in coming months as it puts up to 50 matters into the courts, many of them arising from the Hayne royal commission. #regulation #compliance afr.com/companies/fina…