Cyber-security a top risk, ASIC warns boards

Although the commission did not plan to prescribe technical standards or to provide expert guidance on cyber security, Yanco said ASIC would take action against firms to enforce cyber risk management obligations. Federal reforms that came into effect in 2019 mean that non-compliance with certain AFS licensing obligations, including obligations relating to how cyber risks are addressed, may give rise to a civil penalty.

Cyber-security a top risk, ASIC warns boards
https://www.themandarin.com.au/192206-cyber-security-a-top-risk-asic-warns-boards/