Are you fully compliant with the Privacy Act?
- Not sure (49%)
- Yes (43%)
- No (8%)
Loading ...With so much going on when it comes to industry regulation and the transitional license deadline of 29 June it’s no wonder changes to the Privacy Act haven’t been top of mind for financial advisers.
What our survey results show is that 70% of the industry need to get up to speed and satisfy themselves that they comply with privacy laws.
In our interview with Mark Carver of TwoBlackLabs – a firm that helps clients get to grips with the Privacy Act – Carver talked about the risks of sharing a smartphone for work and personal use.
He also highlighted changes to the act due to become law this year. There will be a legal requirement to tell clients when their privacy has been breached, and companies will be publicly named for allowing a breach to occur.