The Federal Government has released its much anticipated Review into Open Banking in Australia The Review makes 50 sweeping recommendations to implement Open Banking including a new regulatory framework under which the regime would operate in the broader context of a new Consumer Data Right for all ...

The Federal Government has released a Proposals Paper on possible changes to bankruptcy and insolvency laws that will form part of its broader National Innovation and Science Agenda Reform to bankruptcy and insolvency law has been identified as an area that could contribute to changing the culture ...

As part of its implementation of the regulatory sandbox for fintech companies ASIC is providing relief for certain fintech businesses from the obligation to hold an Australian financial services or Australian credit licence Relief may be available for up to 12 months and may be useful to businesses ...

Almost half of all companies experienced at least one cyber ransom incident in 2016 - either a ransomware attack or a ransom denial-of-service attack That same year ransomware attacks cost businesses more than US1 billion worldwide1 a figure expected to reach US5 billion in 2017 and exceed US115 ...

The OAIC has concluded its investigation into Precedent Communications following a massive data breach that rocked the Australian Red Cross Blood Service ...

The Department of Prime Minister and Cabinet has recently considered an early draft of a document defining a new 'cyber lexicon' at a roundtable hosted by Alastair MacGibbon, Special Adviser to the Prime Minister on Cyber Security. The document, titled 'Words Matter: Australia's Cyber Security Lexic ...

There is no current legal obligation under the Privacy Act to notify either the Privacy Commissioner or affected individuals where you suffer a data breach. However, mandatory data breach notification laws will take effect in Australia from 22 February 2018. ...

The Federal Government has proposed radically increased financial penalties and new powers for the Office of the Australian Information Commissioner in the wake of increased scrutiny of social media platforms and a growing consensus that Australias privacy legislation has fallen behind global norms ...

The Ideas Boom has arrived with the Federal Governments National Innovation and Science Agenda Central to the new agenda are a raft of tax and regulatory measures designed to encourage greater investment in startups to help them both get off the ground and to survive the valley of death with greater ...

Everyone is talking about fintech What is it And what does it mean for the financial services industry and for regulation ...