The VLSB+C’s Risk Outlook 2023 highlights five risks for the Victorian profession that will be areas of regulatory focus for the coming year. The publication describes issues and conduct associated with each risk that have the potential to cause consumer harm and explains the planned response to them.
These risks include:
- Cyber security
- Costs disclosure non-compliance
- non-compliance with trust money obligations
- unethical conduct
- inadequate supervision and oversight
The publication also contains some useful tips about how to avoid these risks. One of the organisational goals is to improve communication with lawyers.