🇬🇧 English, 25 October 2026, regulatory enforcement
ASIC secures second cybersecurity penalty in eight months as Fortnum is ordered to pay $1.35 million
Australian Securities and Investments Commission imposes $1.35 million penalty on Fortnum Private Wealth Ltd for inadequate cybersecurity policies and oversight.
The Australian Securities and Investments Commission (ASIC) has secured its second cybersecurity penalty in eight months after the Supreme Court of New South Wales approved an agreed $1.35 million penalty against Fortnum Private Wealth Ltd for inadequate cybersecurity policies, systems and oversight across its network of authorised representatives (ARs).
Fortnum holds an Australian financial services licence and provides product advice to retail clients through a network of principal practices and authorised advisers, which handle sensitive client data and are exposed to cybersecurity risk.
The penalty follows a $2.5 million penalty against FIIG Securities in February and an open letter from ASIC in May urging boards to strengthen cyber resilience as frontier AI accelerates threats.