Articles

Date
Category
Industry

A new AFS licensing regime for Foreign Financial Service Providers

Tuesday, 31 March 2020
image description

Sarah Archer

Associate

Foreign financial service providers will be subject to a new regulatory regime from 1 April 2020, which will require a number of previously exempt foreign financial service providers (FFSPs) to…...

Read more

Outsourcing: How can you comply with an obligation without performing the function?

Monday, 30 March 2020
image description

Alexa Bowditch

Lawyer

In times like these, are you confident that your business will continue to comply with its obligations where it has outsourced its functions? We explore strategies that your business can…...

Read more

Data Breach Reporting – What you need to know as a Licensee

Thursday, 19 March 2020
image description

Fiona McCord

Senior Associate

Australian Financial Services and Australian Credit Licensees are subject to data breach reporting requirements contained in the Privacy Act 1988 (“data breach law”). The law imposes a reporting obligation when…...

Read more

If you thought that breach reporting was tough enough now…

Thursday, 12 March 2020
image description

Michael Mavromatis

Special Counsel

Australia’s dob-yourself-in breach reporting is hard now, but things are about to get a lot harder. A new Bill (an exposure draft at this stage) seeks to amend the Corporations…...

Read more

Changes to annualised salary arrangements: from 1 March 2020

Thursday, 13 February 2020
image description

Naomi Fink

Senior Associate

Is your industry subject to a Modern Award?  If yes, does the Award include an “annualised salary” provision?  If yes, then from 1 March 2020, you must comply with new…...

Read more

Retail vs. Wholesale Clients – Regulatory Concerns and Responses

Thursday, 23 January 2020
image description

David Court

Partner

While there have been some changes to the wholesale client eligibility criteria since 2004, we appear to be reaching a point where a more fundamental reassessment of the distinction between…...

Read more

As a credit licensee, can you sign the Annual Compliance Certificate?

Wednesday, 18 December 2019
image description

Fiona McCord

Senior Associate

If you are a credit licensee, you must lodge an annual compliance certificate with ASIC within 45 days of your licensing anniversary each year.  Your licensing anniversary is the anniversary…...

Read more

I’m a Responsible Manager. What does this mean?

Monday, 25 November 2019
image description

Samantha Hills

Senior Associate

We regularly train Responsible Managers (“RMs”) of AFS licensees to help them better understand their role.  Many RMs are curious to know what they have to do and whether they…...

Read more

Federal Court dismisses ASIC’s test case against Westpac on Responsible Lending

Friday, 08 November 2019
image description

Jesse Vermiglio

Partner

In early August, Justice Perram of the Federal Court dealt ASIC a significant blow by dismissing its case that Westpac had breached responsible lending laws. In some ways, the decision…...

Read more
Loading...