AML/CTF Tranche 2 legislation passed and now law!
Read full article Anti-Money Laundering /Counter-Terrorism Financing (AML/CTF) The key objectives of the AML/ CTF Act 2006 are : To detect, deter and disrupt money laundering, the financing of terrorism, and other serious financial crimes To provide information to relevant bodies to investigate and prosecute To fulfil Australia’s international obligations to combat money laundering. Key […]
Risk management in the not-for-profit sector – enabling NFPs to deliver on their mission
Read full article Not-for-profit enterprises (NFPs) are often galvanised around delivering on a clear and compelling mission. The biggest obstacle to delivering that mission is often money, leading to non-critical functions being run as leanly as possible. Among the functions perceived as non-critical is often risk management. This article identifies key risks for NFPs and […]
Regulatory Update August 2024
Read full article The new financial year has seen a range of updates to financial services regulation and administration. Here we summarise the important ones so you don’t have to, and share our views on them. APRA Prudential Handbook APRA has finalised its new prudential framework (23 July 2024) which includes the digital prudential handbook […]
CPS230 Check in: How does your progress stack up?
Read full article With the release of Apra’s Practice Guide CPG230 – Operational Risk Management, the CPS230 regulatory framework has now been finalised making it an opportune time to take stock on where you are up to in your CPS230 journey. The implementation of CPS230 is a marathon, not a sprint, and it is vital […]
PFS Consulting appoints Madeleine Mattera in a new role as Head of Risk Advisory
MEDIA RELEASE PFS Consulting is pleased to announce that it has appointed Madeleine Mattera in a newly created role as Head of Risk Advisory. PFS Consulting Managing Director, Adrian McGarva said regarding the appointment: “This move is recognition of the critical importance of Governance, Risk & Compliance to financial institutions in Australia and globally. PFS […]
Financial Accountability Regime (FAR) has commenced
March was a busy month with the release of regulator rules, transitional rules and the release of a consultation package for RSE licensees and insurers. PFS have previously provided a FAR guide for financial institutions and this short article highlights a number of recent developments and outlines the timelines for what happens next. Read full […]
Operational Resilience – A bigger game and a broader perspective
In July 2023 APRA published its new Operational Risk Management Prudential Standard, CPS230, which comes into force on 1 July 2025. To date, there is no accompanying explanatory CPG230. PFS Consulting discussed a draft CPS230 in September 2022 and provided further commentary after the final CPS230 was published in July 2023. CPS230 applies to banks, […]
Financial Accountability Regime is now law – A guide for financial institutions
The Financial Accountability Regime has become law. Don’t miss Madeleine’s guide, designed to explain the regime’s implications, and ensure seamless compliance for financial institutions. Read the full guide
