Part 1 - Demystifying conduct regulation, supervision and enforcement
In the first of Ashurst's four-part series, Liz Hristoforidis, Partner, Regulatory Risk at Ashurst Risk Advisory, will introduce how ASIC sets its priorities, what those priorities currently are, and most importantly, how they might affect Australian financial services and credit licensees as they seek to promote positive behavioural change for better consumer outcomes, and to deter misconduct.
In the continuing cost-of-living crisis, with increasing numbers of customers experiencing hardship, on this occasion, Liz and her colleagues will explore historical failures of lenders to identify customers in financial stress and support vulnerable Australians, and how lenders can position themselves to meet ASIC's expectations, including with an emphasis on a data-driven approach to identify and address 'sleeper issues' arising.
Liz Hristoforidis is a regulatory change and intervention specialist with extensive experience over nearly two decades at ASIC, where she worked across almost all of its domains—from licensing to policy development, supervision to enforcement, and strategic planning and performance reporting to regulatory transformation. Immediately before joining Ashurst's Risk Advisory Practice in July 2021, Liz played a pivotal role in establishing ASIC's institutional supervision approach, and led the supervisory teams responsible for the 'close and continuous monitoring' of two of the Big 4 banks and another major institution.
Register for the first instalment of the series.