Gadens Regulatory Recap – 21 February 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, the OAIC, Treasury and ALRC, including various enforcement actions taken by the regulators. ASIC ASIC to crack down on predatory lending: ASIC has promised it will turn its attention to high-cost credit and predatory lending to consumers and small businesses, noting […]

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Gadens Regulatory Recap – 6 February 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, the OAIC, Treasury and ALRC, including various enforcement actions taken by the regulators.  ASIC  ASIC and APRA issue joint letter on delay of Financial Accountability Regime (FAR) commencement and implementation: ASIC and APRA have published a joint letter to all authorised […]

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Gadens Regulatory Recap – 23 January 2024

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, the OAIC, and Treasury, including various enforcement actions taken by the regulators. ASIC ASIC extends product intervention orders for short term credit and continuing credit contracts: On 5 January 2024, the Australian Securities Investments Commission (ASIC) extended its product intervention […]

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Gadens Regulatory Recap – 12 December 2023

This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, the OAIC, and Treasury, including various enforcement actions taken by the regulators. ASIC ASIC releases guidance on the registration of financial advisers: On 28 November 2023, the Australian Securities Investments Commission (ASIC) released guidance through Information Sheets 276 and 277 […]

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Gadens Regulatory Recap – 30 November 2023

This edition of the Gadens’ Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, AUSTRAC, the OAIC, and Treasury, including various enforcement actions taken by the regulators and updates from the 2023 ASIC Annual Forum.  ASIC ASIC and AFSA sign refreshed MoU: On 16 November 2023, the Australian Securities Investment Commission (ASIC) and Australian […]

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A new Banking Code of Practice is on the horizon

Background The Australian Banking Association’s (ABA) Banking Code of Practice (the Code) contains a set of contractually enforceable industry standards that customers and small businesses can expect subscribing banks to uphold. The Code has been in place in various forms since 1993, including a range of protections that are intended to complement and set higher […]

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Gadens Regulatory Recap – 14 November 2023

This edition of the Gadens’ Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, AUSTRAC, the OAIC, and Treasury, including various enforcement actions taken by the regulators. ASIC ASIC releases second publication on insights from the reportable situations regime: On 31 October 2023, ASIC released Report 775 Insights from the reportable situations regime: July […]

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Gadens Regulatory Recap – 31 October 2023

This edition of the Gadens’ Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, AUSTRAC, the ATO, the OAIC, Treasury, and some key legislative updates, including various enforcement actions taken by the regulators. ASIC ASIC Breach reporting amendments: On 19 October 2023. ASIC made ASIC Corporations and Credit (Amendment) Instrument 2023/589, which modifies the […]

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Digital asset regulation – Treasury’s proposed framework for regulating digital asset platforms

In the latest development in Australia’s regulation of digital assets, Treasury has released ‘Regulating Digital Asset Platforms’, a proposal paper for consultation (Proposal). The Proposal proposes to expand Australia’s existing financial services regulatory regime to fill the identified ‘regulatory gap’ in relation to certain digital asset custody services which are not financial products under existing […]

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Gadens Regulatory Recap – 17 October 2023

This edition of the Gadens’ Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, the ATO, Treasury, and the Australian Law Reform Commission, including various enforcement actions taken by the regulators.   ASIC  ASIC and APRA publish further information on joint administration of FAR: On 3 October 2023 ASIC and APRA published a Financial Accountability […]

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Gadens Regulatory Recap – 3 October 2023

This edition of the Gadens’ Regulatory Recap highlights recent developments from ASIC, APRA, OAIC, ACCC, AUSTRAC and Privacy Commission, including various enforcement actions taken by the regulators. ASIC 1. ASIC Chairman highlights cyber-security risks: ASIC Chairman, Joe Longo gave a speech at the AFR Cyber Summit on 18 September 2023 regarding cyber risk and cyber […]

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Defamation – what is required to establish ‘serious harm’?

The Federal Court of Australia recently handed down a decision in Selkirk v Hocking (No 2)[1] shedding light on the serious harm element of the cause of action for defamation. Background In November 2019, Ms Selkirk was convicted of multiple counts of dishonestly obtaining financial advantage by deception by using falsified receipts to return goods […]

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