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Why regulators are targeting board execs for cyber security failures

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After high profile data breaches of companies like Australia’s Optus, regulators are targeting boardroom execs for their roles in the failures.

The Australian Securities and Investments Commission (ASIC) is set to hold boards and executives accountable for cybersecurity lapses, according to reporting by the Australian Financial Review.

In a groundbreaking move, ASIC plans to penalise companies and their leadership for failing to protect sensitive data adequately.

Recent cyberattacks have exposed vulnerabilities across various sectors, prompting ASIC to take proactive measures. Under new regulations, boards and senior management will be legally obliged to implement robust cybersecurity protocols. Failure to do so could result in substantial fines and personal liability for corporate leaders.

ASIC Chairperson, Sarah Anderson, stated, “The increasing frequency of cyberattacks poses a severe threat to Australia’s financial stability. It’s imperative that corporate decision-makers prioritize cybersecurity as a fundamental business function.”

This regulatory shift aims to foster a culture of cyber resilience in organisations, encouraging investment in cutting-edge technologies and staff training. Companies will need to demonstrate their commitment to safeguarding sensitive data, or face severe consequences.

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Judge grants request to pause Trump’s federal Jan. 6 case

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Special Counsel Jack Smith moves to vacate pretrial deadlines as DOJ weighs next steps after Trump’s Election Day victory.

U.S. District Court Judge Tanya Chutkan on Friday granted Special Counsel Jack Smith’s request to pause proceedings in former President Donald Trump’s federal Jan. 6 case.

The decision halts upcoming pretrial deadlines, allowing the Department of Justice (DOJ) time to consider next steps after Trump’s recent electoral win.

Smith’s motion filed on Friday highlighted the unprecedented situation, noting, “as a result of the election,” the DOJ seeks to vacate remaining deadlines to “assess this unprecedented circumstance.”

Judge Chutkan agreed, instructing the prosecution to submit a status report on December 2 with its proposed course of action.

The request marks a pivotal step, likely steering toward a halt in prosecution, given the DOJ’s longstanding policy against prosecuting a sitting president.

Trump’s victory, making him the first convicted felon elected to the White House, has prompted DOJ officials to deliberate on how best to close Smith’s two federal cases against him.

Had Trump lost the race against Vice President Harris, the former president could have faced potential prison time.

However, this Election Day win likely shields him from criminal consequences while in office.

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How Donald Trump’s business policies will shape the U.S. economy

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Business leaders are closely monitoring the impact that President-elect Donald Trump’s forthcoming policies might have on the financial landscape.

In a resounding victory, Trump captured both the electoral and popular vote to become the 47th President of the United States.

Trump’s landslide victory is fueling discussions on how his administration’s potential policy changes could reshape tax and trade systems as well as influence global economies.

Vick Tipnes, the CEO of Blackstone medical services joins Veronica Dudo to discuss.

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Usha Vance to make history as the first Indian-American Second Lady

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President-elect Donald Trump is assembling his transition team in Florida alongside Vice President-elect J.D. Vance as they prepare for the upcoming administration.

This election ushers in significant milestones, including Usha Vance, who will be the first Indian American and Hindu to serve as Second Lady of the United States.

As the daughter of Indian immigrants, her presence marks a moment of cultural representation in American politics.

Vice President-elect J.D. Vance praised his wife’s unwavering support, attributing her strength as a key factor in their successful campaign.

This new chapter signals a blend of continuity and change in the White House, promising a term marked by historical firsts and renewed policy efforts.

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