CORPORATIONS – Financial services licence – ASIC sought declaration under s 1317E(1) of the Corporations Act 2001 (Cth) (Corporations Act) in respect of admitted contraventions of s 912A of the Corporations Act – ASIC sought orders imposing a pecuniary penalty in an agreed sum – where defendant was subject to a cyber attack as a result of it failing to establish and maintain adequate cybersecurity measures – whether defendant failed to do all things necessary to provide financial services efficiently, honestly and fairly – whether defendant failed to have available adequate financial, technological and human resources to provide financial services – whether defendant failed to have adequate risk management systems – whether appropriate to grant penalty jointly sought – orders made
Original article available at: https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2026/2026fca0092For more information, see the original judgement.
