Our team

Iona Luke

LinkedinSpecial Counsel

Iona helps organisations navigate financial services regulation, privacy, artificial intelligence governance, AML/CTF and develop practical responses to the legal and regulatory issues arising from technology-enabled products and business models. She has particular experience supporting financial services, payments and technology-enabled businesses.

Before joining Holley Nethercote, Iona held senior legal, compliance and governance roles across banking, insurance, payments and remittance businesses, including leading legal and compliance functions. Iona is proficient in Cantonese and Mandarin. She is an active member of privacy, cybersecurity and data law committees at The Law Society of New South Wales and the Australian Society for Computers and Law.

Admitted to Practice

2000

Key Areas of Expertise

  • Financial services regulation, payments, AML/CTF and regulatory compliance
  • Privacy law, data governance and artificial intelligence governance
  • APRA Prudential Standards, governance and compliance frameworks
  • Technology-enabled products, digital platforms and commercial arrangements

Career Achievements

  • Led regulatory reform and compliance uplift projects, including Privacy Act reform, life insurance reforms, Prudential Standards CPS 230, CPS 234 and AML/CTF reforms
  • Established and led in-house legal and compliance functions for financial services firms, including banking and remittance businesses
  • Designed a scalable artificial intelligence governance framework to support the responsible adoption and use of AI across a diversified business group
  • Served as AML/CTF Compliance Officer across Australia and New Zealand and established the legal, financial crime compliance and governance framework for a digital payments business

Qualifications

  • Master of Information Technology
  • Bachelor of Laws
  • Bachelor of Commerce (Finance)
  • Graduate of the Australian Institute of Company Directors
  • Fellow of the Governance Institute of Australia

Favourite Quote

‘Simplicity is the final achievement.’  – Frederick Chopin

My Thoughts

Privacy reform: key areas for APP entities to review now

15 Sep 2026

Introduction The Exposure Draft Privacy Amendment (Personal Data Protection) Bill 2026[1] (Exposure Draft Bill) and accompanying consultation paper[2], released by the Attorney-General[3], propose further changes to the Privacy Act 1988 (Cth) (Privacy Act) and the…

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ASIC calls for cyber uplift: What AI-enabled cyber risk means for licensees

14 Jul 2026

On 8 May 2026, ASIC issued an open letter[1] to Australian financial services licensees and market participants calling for an urgent uplift in cyber resilience measures (the Letter). Issued against the background of growing concern…

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