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Is AI a threat or opportunity for Australian Financial Services and Australian Credit Licensees, today?
01 Jun 2024
Paul Derham
Managing PartnerFor the time poor readers, here’s the TL;DR. Artificial Intelligence (AI) presents unique regulatory and other risks that need to be managed. The law in Australia today applies to AI,…...
Read moreSection 30 and Section 33 Notices – ASIC’s Power to Compel Production of Books
05 Apr 2024
Rachel Erlich
Special CounselThe Australian Securities and Investments Act 2001 (ASIC Act) gives ASIC the power to issue section 30 and section 33 notices compelling the production of certain books. Section 30 and…...
Read moreWhat happens when the applicant does not give consent?
15 Mar 2024
Ellie Khor
LawyerThe ASIC Corporations and Credit (Reference Checking and Information Sharing Protocol) Instrument 2021/429 (the Protocol) sets out the reference checking and information sharing requirements that apply to financial services licensees…...
Read moreWhat are design and distribution product governance arrangements?
29 Feb 2024
Michael Mavromatis
PartnerThe product design and distribution obligations (DDO) regime, which commenced on 5 October 2021 introduced a new approach to regulation, by moving away from relying on disclosure as the main…...
Read moreUnfair Contract Terms – Is there a new problem?
28 Feb 2024
Tim Dixon
Special CounselSince our article in November 2018, the Unfair Contracts Terms (“UCT”) regime[1] has been strengthened to apply to a much greater pool of contracts, and so some businesses which previously…...
Read moreDesign and Distribution Obligations – deferred but not forgotten. What do you need to do to prepare for the DDO regime?
23 Dec 2023
Michael Mavromatis
PartnerThe design and distribution obligations (DDO) may have been deferred for six months, but they’re not going away. Product issuers and distributors still need to prepare for the commencement of…...
Read moreOur submission to Treasury’s Regulating Digital Asset Platforms Proposal Paper
08 Dec 2023
Paul Derham
Managing PartnerDear Director, RE: Regulating Digital Asset Platforms - Proposal Paper Thank you for the opportunity to provide feedback on Treasury’s Regulating Digital Asset Platforms Proposal Paper (the Proposal Paper). As…...
Read moreDo I need an AML Licence in Australia?
24 Nov 2023
Rachel Erlich
Special Counsel“Do I need an AML Licence in Australia?” is a commonly asked question. You might be surprised to learn that there is in fact no such thing as an Australian…...
Read moreAnybody home? The importance of checking whether your corporate clients have been deregistered
17 Oct 2023
Ellie Khor
LawyerThere is no express obligation for a financial services provider to monitor its client lists for deregistered companies. However, the recent case of ASIC v Westpac [2022] FCA 515…...
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