This excellent article from Ashurst sets out the size of the challenge faced by Risk and compliance professionals in our rapidly changing regulatory landscape. This fact illustrates this challenge:
“…Over the last four months in Australia, there have been over 330 new, amended or repealed obligations that impact financial services organisations”
And this
“…2024 already promises to be even more active on the regulatory front, with the government signalling reforms in several key areas, such as scams, Environmental, Social and Governance (ESG), privacy and cyber security, artificial intelligence, and the financial services framework.
This is in addition to the steps businesses should already have taken to implement the reforms that commence this year, such as the new Financial Accountability Regime (aka FAR, for short). That’s a lot of complex legislation that can be hard to understand, let alone implement..”
This article is about a five minute read and well worth the time.
https://www.lexology.com/library/detail.aspx?g=ce408bb2-a275-49d1-b0f7-5ee22e4f4105