News Summary

• ASIC Commissioner Simone Constant said the regulator had realized preparedness of Australian financial services organizations varied widely.
• Macquarie chief executive Shemara Wikramanayake said the bank was working on substantial technology programs to test its potential risks against frontier AI models.
• “The clock is at a minute to midnight – if you aren’t on top of your cyber resilience already, the time to act and prepare is right now,” Constant said.
• The ability of central banks and financial regulators to monitor and combat the risks posed by AI models has been called into question.