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ASIC releases Corporate Plan 2023-27 with Key Strategic Priorities and Projects – What does this mean for businesses?

The Australian Securities and Investments Commission (ASIC), Australia’s company and financial services market regulator, released its latest Corporate Plan 2023-27. ASIC’s four year plan provides companies and organisations with useful insight into the regulator’s strategic priorities in respect of compliance and enforcement. This update provides an overview of ASIC’s plan.

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Do companies require a cybersecurity risk management plan, under Australian law?

Recent case of ASIC v RI Advice Group Pty Ltd serves as a warning that companies which do not have adequate cybersecurity risk management plans, systems and controls in place are at risk of contravention of the Corporations Law and the Privacy Act which can result in substantial pecuniary penalties. Practical steps can be taken by companies and their directors to reduce these risks.

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