Articles

Date
Category
Industry

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

Thursday, 19 March 2020
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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…...

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If you thought that breach reporting was tough enough now…

Thursday, 12 March 2020
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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…...

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Changes to annualised salary arrangements: from 1 March 2020

Thursday, 13 February 2020
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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…...

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Retail vs. Wholesale Clients – Regulatory Concerns and Responses

Thursday, 23 January 2020
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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…...

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

Wednesday, 18 December 2019
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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…...

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

Monday, 25 November 2019
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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…...

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

Friday, 08 November 2019
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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…...

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12 Problem Words for Financial Services Promotional Materials

Friday, 25 October 2019
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David Court

Partner

Whatever your financial services business model, you are legally responsible for the content of the promotional material that you publish or otherwise make available in the public arena. This blog…...

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10 easy steps to draft ‘clear, concise and effective’ Statements of Advice

Thursday, 17 October 2019
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Zoe Higgins

Special Counsel

Financial advisers are required to provide Statements of Advice (SOAs) that are “clear, concise and effective”. But what does this actually mean in practice? We share some tips and identify…...

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