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Unconscionable 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…...
Read moreSo you’re planning on opening a cryptocurrency (e.g. Bitcoin, Altcoin) exchange
28 Jun 2017
Alexa Bowditch
Previously a Lawyer at Holley NethercoteBitcoin and other cryptocurrencies have seen a significant value increase in the recent past. If you had the foresight to invest in Bitcoin and Ethereum in January 2017, you…...
Read moreRoom to improve AML/CTF Systems and Controls – Our take on AUSTRAC’s Risk Assessment
25 Oct 2017
Alexa Bowditch
Previously a Lawyer at Holley NethercoteIn July 2017, AUSTRAC released its latest money laundering and terrorism financing (ML/TF) risk assessment which focuses on the securities and derivatives sector. Similar to past risk assessments released…...
Read moreAustralia Provides Relief for GST Treatment of Digital Currencies
22 Nov 2017
Mark Sneddon
Special CounselThe recent changes to the law in Australia align the GST treatment of digital currency with the GST treatment of money (particularly foreign currency). However, it will be important…...
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