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APRA publishes additional FAQs on Superannuation Data Transformation Phase 1 reporting standards 16 July

Date Time APRA publishes additional FAQs on Superannuation Data Transformation Phase 1 reporting standards 16 July The Australian Prudential Regulation Authority (APRA) has published additional frequently asked questions (FAQs) for registrable superannuation entity (RSE) licensees to provide further guidance on meeting the Reporting Standards for Phase 1 of the Superannuation Data Transformation. Included in the FAQs is a clarification on FAQ 1.09 for the historical reporting requirements to confirm that this applies to quarterly and annual reporting. APRA is releasing FAQs and worked examples to clarify reporting issues raised by RSE licensees and to help them meet their reporting obligations. APRA will continue to inform reporting entities and subscribers of updates to the FAQs and worked examples as they are released in the lead up to the first collection of data under the new Reporting Standards on 30 September 2021.

Hold company directors liable for cyber attacks

Government considers range of options. By David Braue on Jul 15 2021 10:50 AM Print article The government is considering holding directors liable for cyber attacks. Photo: Shutterstock Company board members could potentially be held personally liable if their company suffers a cyber attack, Minister for Home Affairs Karen Andrews has warned, as the government continues tightening controls on the way companies manage ransomware and other cyber attacks. A series of mooted policy changes – such as recent proposals to mandate reporting of ransomware payments, fine companies that don’t fess up, and ban insurers from paying fast-increasing ransomware payouts – reflect government concerns that escalating cyber security attacks are extracting an immense financial and operational toll.

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