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Insurance sector reform under the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020
After several months of delay due to COVID-19, the Bill implements a large number of the Hayne Royal Commission recommendations, and in particular picks up several of the recommendations that are aimed at reforming the insurance sector. ...
Proposed updates to security of critical infrastructure legislation
As part of a broader strategy to strengthen the security of Australia's infrastructure, particularly cybersecurity, the Government has released exposure drafts of its Security Legislation Amendment (C ...
A 'single default account' - your superannuation follows you
The exposure draft legislation released yesterday for a 'single default account' aims to limit 'the creation of multiple superannuation accounts for employees who do not choose a superannuation fund when they start a new job'. ...
Full Federal Court dismisses Commissioner's transfer pricing appeal against Glencore
On 6 November 2020, the Full Court of the Federal Court of Australia handed down its much anticipated decision dismissing the Commissioner's appeal (save for one issue) against Glencore Investment Pty Ltd in a significant transfer pricing dispute. ...
Papua New Guinea votes to establish an Independent Commission Against Corruption
On 12 November 2020, Papua New Guinea's (PNG) Parliament unanimously passed a Bill to establish an Independent Commission Against Corruption (ICAC). Almost a decade in the making, the successful passage of the Bill is a significant milestone in progressing PNG's anti-corruption agenda. ...
Retirement Income Review
Our key takeaways from the Government's Retirement Income Review (with a focus on the superannuation implications). ...
Vietnam: stricter e-commerce regulations to be issued
We consider the key proposed changes under, and implications of, Vietnam's new Draft Decree amending the current Decree No. 52/2013/ND-CP on e-commerce. ...
In Touch: Federal Court orders penalties against Viagogo; ACCC commences new civil proceedings; Rod Sims continues to advocate for law changes; and other developments
Federal Court orders penalties against Viagogo and iSelect; ACCC commences new civil proceedings; Rod Sims continues to advocate for law changes; and other developments ...
ACCC releases its first Digital Platform Services Inquiry Interim Report
The ACCC recently published the Digital Platform Services Inquiry Interim Report as part of its role in monitoring the impact of digital platforms on competition and consumers. The Interim Report examines the privacy / data handling, competition, consumer and small business implications related to the increasing use of online private messaging services. ...
National Electricity and Gas rules update: October 2020
In our latest update, we examine the progress of new and existing rule change requests to the AEMC across the month of October, as well as take a closer look at the Data Strategy proposed by the ESB. ...