The Federal Government's insolvency reform package relating to small business provides for a debt restructuring process intended to give eligible small businesses the flexibility to restructure debts while the directors remain in control of the business, and for a new simplified liquidation process for small business. ...

The Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020 aims to implement the Hayne Royal Commission recommendations in relation to changes to ongoing advice fee arrangements, superannuation trustees passing on advice fees and requiring AFSL holders or authorised representatives (providing entity) to disclose a lack of independence when providing personal advice to retail clients. ...

In the absence of the Responsible Lending Obligations, lending by Australian banks will be regulated by APRA. This means the new Credit Risk Management Prudential Standard (APS220) will be the central legislative guidance in designing consumer assessment and lending protocols. ...

The climate emergency is occupying mainstream policy focus in many countries and with the lack of viable alternatives to achieve the levels of deep decarbonisation consistent with net zero targets, clean hydrogen has unprecedented political and industry momentum. ...

The government yesterday introduced into Parliament the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 to implement a large number of the Hayne Royal Commission recommendations. Many provisions have a start date of 1 January 2021, and some don't have a transition period. ...

Design and Distribution Obligations (DDO) regime is one of the biggest things for the financial services industry in 2020, affecting almost every part of the industry. ...

Recent data, coupled with the Privacy Act 1988 notifiable data breaches scheme, APRA Prudential Standard CPS 234, the Security of Critical Infrastructure Act and the GDPR, confirm that when it comes to serious cyber security breaches, listed entities should be complying with existing continuous disclosure requirements. ...

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 ...

On 27 November, the Department of Communications issued a Media Reform Green Paper (Green Paper) seeking views on a number of proposals. The Green Paper builds on a number of issues highlighted by the ...

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'. ...