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Unprecedented wake-up call for AML/CTF in pubs & clubs: AUSTRAC sues Mounties
11 Aug 2025
Anthony Jensen
Special CounselKey takeaways: First AUSTRAC civil penalty proceeding brought against a pubs & clubs business, after ~5 years of putting the industry on notice Case stems from alleged failure to properly…...
Read moreASIC v HSBC: Is “adequacy” enough to manage cybersecurity risk?
20 Dec 2024
Jesse Vermiglio
PartnerWhile Optus and Medibank come to mind when we think of cyber incidents, ASIC is increasingly enforcing its regulatory priority of licensee failures to have adequate cyber-security protections. Think RI…...
Read moreWeathering the Storm: Cybersecurity and managing information in the wake of the Optus & Medibank privacy data breaches
03 Feb 2023
Ellie Khor
AssociateHistorically, businesses have kept documents to 'be on the safe side'. But, as we now see in the wake of last year’s Optus and Medibank data breaches, this approach is not without…...
Read moreBuy Now Pay Later reforms have commenced: what does this mean for you?
04 Aug 2025
Katherine Temple
Special CounselBuy Now Pay Later (BNPL) providers are now regulated under the National Consumer Credit Protection Act 2009 (National Credit Act).[1] So, what do these reforms mean for the BNPL industry?…...
Read moreBan on conflicted remuneration for mortgage brokers and intermediaries – here to stay
21 Jul 2025
Rachel Erlich
Special CounselIn February 2020, the Financial Sector Reform (Hayne Royal Commission Response – Protecting Consumers (2019 Measures) Act 2020 (Act) passed both Houses of Parliament and received Royal Assent. The Act…...
Read moreYou’ve just suffered a ‘cyber’ incident – What are the legal risks?
02 Apr 2024
Jesse Vermiglio
PartnerAsk Optus. Its 14-hour national outage on 8 November 2023 led to a Parliamentary inquiry, the resignation of its then CEO, and loss of trust across the market. While it…...
Read moreThe big issue with issuing – Can it be done without holding an AFSL?
30 Jun 2025
David Court
PartnerUnder the financial services laws, a person that carries on a financial services business must hold an AFSL covering the provision of those services, unless an exemption applies. Issuing a…...
Read moreASIC’s Product Intervention Power – How does it work?
01 Dec 2020
Rachel Erlich
Special CounselSince 6 April 2019, ASIC has had the power to proactively intervene in relation to a financial or credit product (“product”) or class of products to reduce the risk of…...
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…...
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