531-540 of 589 results
New APRA prudential standard raises bar for information security obligations and incident notification requirements
As companies and regulators across the world grapple with ever-increasing cyber security threats, Australia's financial services regulator, APRA, has released the final form of a new prudential standard, which imposes heigtened security obligations for APRA-regulated entities ...
Competition in electricity and financial services markets - common issues, common solutions?
The level of competition in both the electricity and financial services sectors has been closely scrutinised by the Australian Competition and Consumer Commission and the Productivity Commission While there are fundamental differences in market structures in both sectors the respective commissions ...
APRA consults on Hayne recommendation concerning end-to-end product responsibility – the right tool for the job?
APRA has announced a consultation on a proposal to create a new 'end-to-end product' responsibility within the Banking Executive Accountability Regime (BEAR). ...
APRA's guidance on the Protecting Your Super changes
On 8 May APRA released its answers to some frequently asked questions about the Protecting Your Super changes I would politely suggest that the questions asked and answered by APRA make up a fairly small subset of the questions that are in fact being asked in some cases very frequently about the PYS ...
ASIC's change of tone in action
ASIC's 'why not litigate?' approach to enforcement activities and its change in tone confirm the new era of regulatory engagement has arrived. In particular, its recent actions in the Federal Court place the waiving of legal professional privilege under the spotlight. ...
Court accepts market-based causation
Perhaps the most important unanswered question in Australian class action law has been how causation may be established in a shareholder class action After more than a decade of uncertainty the Supreme Court of NSW has ruled that shareholders can prove causation by establishing that the price of the ...
Road map to anti-money laundering and counter-terrorism financing reform
The Federal Attorney-Generals Department has released its draft Project Plan for the implementation of the wide-ranging recommendations arising from the recent statutory review of Australias anti-money laundering and counter-terrorism financing regime Partner Peter Haig Associate Andrew Shetliffe ...
A step closer to industry funding of ASIC
Last week the Federal Government moved another step closer to implementing an industry funding model for the recovery of ASICs costs by introducing the ASIC Supervisory Cost Recovery Levy Bill 2017 as well as two related Bills into Parliament These Bills implement the recommendations of the ...
Predictive coding: the future of electronic document production?
A recent decision of the English High Court may pave the way for the use of predictive coding in large scale discovery and regulatory investigations in Australia Partners Nick Rudge and Duncan Travis Managing Associate Kate Austin and Associate Emily Giblin look at the benefits and risks of the new ...
New legislation introduces criminal offences for false accounting
The Federal Government has proposed new legislation that introduces two new criminal offences for false accounting into the Commonwealth Criminal Code The proposed false accounting offences are designed to help Australia comply with the OECDs Convention on Combating Bribery of Foreign Public ...