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Wholesale Client Eligibility – Sophisticated Investor and Individual Wealth Tests
25 Aug 2023
David Court
PartnerIn recent years, the issue of wholesale client eligibility has been attracting increased attention as an area in need of reform. Of particular interest are recent developments in relation to…...
Read moreNew penalties for Unfair Contract Terms call for an immediate review of your Standard Form Contracts
09 Aug 2023
Alison Rees
Senior AssociateOn 9 November 2023, a substantial expansion of the unfair contract terms laws (the UCT laws) in the Australian Consumer Law (ACL) and the Australian Securities and Investments Commission…...
Read moreCurrently trending: Interim stop orders – ASIC’s focus on design and distribution
07 Jul 2023
Josh Wigney
AssociateWhen we think of trending, we think of what’s popular on Twitter or TikTok, and these trends generally don’t last longer than a couple of days to a week. When…...
Read moreFederal Government to remove loophole for Buy Now Pay Later providers
26 Jun 2023
Ursula Noye
Senior AssociateThe Federal Government has announced that it will move to regulate Buy Now Pay Later (BNPL) providers under the National Credit Act[1]. The Hon Stephen Jones MP, Minister for Financial…...
Read moreOur Submission to Consultation Paper: Modernising Australia’s AML/CTF regime
08 Jun 2023
Katherine Temple
Senior AssociateDear Director, RE: Modernising Australia’s AML/CTF regime Thank you for the opportunity to provide feedback on proposed reforms to Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime. We support improvements…...
Read moreBreach reporting: When do I need to report an investigation to ASIC?
05 Jun 2023
Katherine Temple
Senior AssociateLast month, the Australian Securities and Investments Commission (ASIC) updated its guidance on the breach reporting regime, with several amendments to Regulatory Guide 78: Breach reporting by AFS licensees and…...
Read moreRegulation and risk collide: managing information as an AFS licensee
01 May 2023
Samantha Hills
PartnerWith the recent spate of data breaches now extending to the financial services industry, Australian financial services licensees are racing to ensure that their information management procedures are up to…...
Read moreThe GDPR and Australia
01 May 2023
Vivienne Sasse
Previously a Lawyer at Holley NethercoteWhat is the GDPR? The GDPR The Regulation (EU) 2016/679 of the European Parliament and of the Council (General Data Protection Regulation) (GDPR) sets out the rules in relation to…...
Read morePulling her punches? The Quality of Advice Review and Wholesale Clients
05 Apr 2023
David Court
PartnerIn recent years, there have been a number of reviews into various aspects of the regulation of the financial services industry. The wholesale client eligibility rules is one area…...
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