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Insights

Date
Industry

Financial Services Compliance: Save or Spend?

06 May 2021
Financial Services Compliance: Save or Spend?

Zoe Higgins

Special Counsel

When new clients are looking to engage us for the first time, they sometimes ask us for recommendations on what our first task should be. This is obviously more likely…...

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Keeping your AML/CTF Program up-to-date

01 Apr 2021
Keeping your AML/CTF Program up-to-date

Naomi Fink

Senior Associate

Outsourcing KYC obligations If you are bound by the Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation[1], (that is, you are a “reporting entity”), you must have in place policies…...

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Essentials of common Services Agreements in Financial Service

25 Mar 2021
Essentials of common Services Agreements in Financial Service

Alexa Bowditch

Lawyer

Service agreements are common agreements in many industries, not just in the financial services industry.  A service agreement is a contract made between two parties that sets out the specific…...

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Increased Competition Scrutiny in the Financial Services Sector by the ACCC

02 Mar 2021
Increased Competition Scrutiny in the Financial Services Sector by the ACCC

Annabelle Chai

Lawyer

The role of the ACCC in the financial services sector has grown since the last time we explored its involvement back in 2012. Review of the Financial Services Sector Productivity…...

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Section 30 and Section 33 Notices – ASIC’s Power to Compel Production of Books

01 Feb 2021
Section 30 and Section 33 Notices – ASIC’s Power to Compel Production of Books

Rachel Erlich

Senior Associate

The Australian Securities and Investments Act 2001 (Act) gives ASIC the power to issue section 30 and section 33 notices compelling the production of certain books. Section 30 and section…...

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Responsible Managers and the Key Person Condition – The Consequences

20 Jan 2021
Responsible Managers and the Key Person Condition – The Consequences

Frank Varga

Head of Licensing

We have previously discussed what does it mean to be a Responsible Manager? To recap, Section 912A of the Corporations Act, which sets out the key obligations of an AFS…...

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Avoiding a successful Unfair Dismissal claim – Some hints and tips

15 Dec 2020
Avoiding a successful Unfair Dismissal claim  – Some hints and tips

Tim Dixon

Special Counsel

It is said that the most valuable asset of a business can be its employees.  Whilst that is usually true, from time to time it becomes necessary, for the good…...

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New Breach Reporting Regime: as simple as assembling a springless trampoline

08 Dec 2020
New Breach Reporting Regime: as simple as assembling a springless trampoline

Paul Derham

Managing Partner

After browsing the recently-tabled 153-page Financial Sector Reform Bill, I was struck by the irony of Hayne’s comments in his Interim Report: Should the existing law be administered or enforced…...

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ASIC’s Product Intervention Power – How does it work?

01 Dec 2020
ASIC’s Product Intervention Power – How does it work?

Rachel Erlich

Senior Associate

Since 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…...

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