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Shemira Jeevaratnam

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Shemira is an associate in Baker McKenzie's Sydney office. Her practice focuses on FinTech, corporate crime and financial services.

On 5 May 2022, in a landmark Australian decision, the Federal Court found that RI Advice had breached its obligations as an Australian financial services licensee to act efficiently, honestly and fairly, as a result of its failure to have in place adequate risk management systems to manage cybersecurity risks. In handing down her judgment, Justice Rofe warned that “cybersecurity risk forms a significant risk connected with the conduct of the business and provision of financial services”. Her Honour noted that the declarations ordered in the matter should deter other AFS licensees from engaging in similar conduct.

This edition of Bite-size Briefings explores the regulation of crypto (or digital) assets across a number of jurisdictions: Australia, Brazil, Hong Kong SAR, Singapore, the UK and the US.