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Federal 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 moreWeathering the Storm: Cybersecurity and managing information in the wake of the Optus & Medibank privacy data breaches
03 Feb 2023
Ursula Noye
Senior 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 moreYou’ve just suffered a ‘cyber’ incident – What are the legal risks?
02 Apr 2024
Ursula Noye
Senior AssociateAsk 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 moreUnconscionable conduct and sales incentives: ASIC v Select AFSL Pty Ltd (No 2)
11 Oct 2022
Ursula Noye
Senior AssociateThe recent findings of unconscionable conduct in the case of ASIC v Select AFSL Pty Ltd (No 2) [1] relate to particularly egregious conduct, which was first uncovered by the…...
Read moreASIC v HSBC: Is “adequacy” enough to manage cybersecurity risk?
20 Dec 2024
Ursula Noye
Senior AssociateWhile 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 moreIs 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 moreTop concerns for credit licensees and how to manage them
04 Apr 2025
Samantha Hills
PartnerWe have put together a list of some of the most common compliance concerns raised by credit licensees in our Annual Compliance Trends Survey Report and some suggestions on how…...
Read moreMismanaging client data can cost you! Lessons to be learned from Equifax
30 Jun 2019
Fiona McCord
Previously a Senior Associate at Holley NethercoteNote: This article was reviewed in 2025 Late 2018, UK based Equifax Ltd was issued with a penalty of 500,000GBP by the Information Commissioner (UK) (the Commissioner) in relation to…...
Read moreSome practical lessons on the regulatory “wildcard” – the efficiently, honestly and fairly obligation
28 Feb 2025
Ellie Khor
LawyerSection 912A of the Corporations Act 2001 sets out the “ten(ish) commandments” for AFS licensees, the first of which is the obligation for a licensee to do all things necessary…...
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