Legal Updates

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  • By Grant Holley

    Commercial Law

    Your obligations under Australia's new Modern Slavery Bill

    Monday, 17 September 2018
    Australia’s new Modern Slavery Bill 2018 (Cth) (‘the Bill’) was introduced into the House of Representatives on 28 June 2018 and is expected to be passed by the end of the year with bipartisan support. The Bill’s purpose is to address modern slavery risks in the supply chains of Australian goods and services by establishing a reporting framework for Australian entities.

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  • By Alexa Freeman

    Financial Services Law

    5 Frequently Asked Questions for Setting up a Cryptocurrency Exchange in Australia

    Wednesday, 18 July 2018
    With digital currencies having cemented themselves in daily finance updates, they have begun to attract the wider market. Due to the returns that have been made in cryptocurrencies, and the regulatory roadblocks in countries outside Australia, it is no surprise that many people are planning on setting up digital currency exchanges in Australia. This article addresses the most Frequently Asked Questions we receive about exchange setups, and prepares you for talking to lawyers if you’re serious about setting up in the highly regulated Australian jurisdiction.

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  • By Jesse Vermiglio

    Financial Services Law

    It's time to dust off your conflicts of interest policy

    Wednesday, 27 June 2018
    Earlier this year, ASIC launched a crusade against poor financial advice. ASIC looked at how some of Australia’s larger banking and financial services institutions dealt with conflict of interest between selling its in-house products and looking after a client’s best interest. These issues were also raised by the Banking Royal Commission, and have left the larger banking institutions reconsidering its separate divisions.

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  • By David Court

    Financial Services Law

    Deadline is Fast Approaching for MDA Service Providers!

    Monday, 16 April 2018
    If your business operates a Managed Discretionary Account service through a regulated platform and has been relying on the “no-action” letter, this is a reminder that changes are happening and with little time remaining.

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  • By Fiona McCord

    Financial Services Law

    You’ve just suffered a ‘cyber’ incident – What Are the Legal Risks?

    Monday, 19 February 2018
    While it is natural to focus on restoring internal systems and security processes if a cyber incident arises, consideration must be given to the potential legal ramifications. Here are our top four cyber incident legal risks that should be considered by every business.

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  • By Terence Wong

    Financial Services Law

    Enhanced Regulatory Sandbox - Fintech 2.0 or Fintech 1.1?

    Monday, 15 January 2018
    Australian Fintech businesses would be aware of ASIC's existing Fintech Regulatory Sandbox. In this blog, we refer to this as the “Existing Sandbox” - see a previous blog we wrote defining ASIC's Existing Sandbox. The Existing Sandbox was designed for certain Fintech startup businesses to avoid AFS licensing requirements for one year subject to retail client caps, notification requirements and client exposure limits.

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  • By Tim Dixon

    Commercial Law

    Dealing with Bad Behaviour by Employees

    Wednesday, 13 December 2017
    Every now and again, employers find themselves faced with an employee who steps over the line and does something which requires a disciplinary response but may not warrant dismissal. This may occur when a long standing and valued employee does something out of character.

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  • By Zoe Higgins

    Financial Services Law

    Proposed Internal Dispute Resolution (IDR) Reporting Requirements

    Friday, 24 November 2017
    Since the Ramsay Review commenced in 2016, there has been significant progress toward a new framework for External Dispute Resolution (EDR) in Australia. The new framework will include the establishment of the Australian Financial Complaints Authority (AFCA), which will become a ‘one stop shop’ for the resolution of financial complaints.

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  • By Mark Sneddon

    Financial Services Law

    Australia Provides Relief for GST Treatment of Digital Currencies

    Wednesday, 22 November 2017
    The 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 for purchasers and users to ensure that the particular tokens they are using come within the definition of “digital currency” in the GST legislation.

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  • By Fiona McCord

    Financial Services Law

    Why Australian Financial Services Licensees absolutely MUST prioritise cyber-resilience

    Friday, 17 November 2017
    12-18 November is fraud awareness week, and once again, Cyber-Resilience is a hot topic. As a licensee, do you wonder what you legally have to do? Before we tell you, let’s start, as Simon Sinek recommends, with Why…

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Legal Updates