HSF FSR Australia Notes – 2023 Wrapped

Welcome to HSF FSR Australia Notes – 2023 Wrapped! It has been another big year of regulatory change and enforcement action in the Australian financial services market, with DDO, unfair contract terms and breach reporting attracting a lot of attention and discussion among industry and the regulators. In our 2023 Wrapped, we take a look … Read more

FSR GPS Podcast Series – EP9: Understanding ASIC’s breach reporting relief

EP 9: Understanding ASIC’s breach reporting relief In this episode, join Senior Associates Tamanna Islam and Shan-Verne Liew and Solicitor Isabel Chong as they unpack the scope of ASIC’s relief from the mandatory breach reporting regime for Australian financial services licensees. Soundcloud | Spotify | Apple      About the FSR GPS Podcast Series Our “FSR GPS” podcast series explores topical … Read more

State of Play: ASIC gives breach reporting relief

ASIC has registered the ASIC Corporations and Credit (Amendment) Instrument 2023/589 (Instrument), which provides welcome relief in relation to the ASIC breach reporting regime for Australian financial services licensees. The Instrument commences on 20 October 2023. The Instrument provides relief from the original position that a contravention of the misleading or deceptive conduct provisions are … Read more

FSR GPS Podcast Series – EP4: Spotlight on greenwashing

EP 4: Spotlight on greenwashing Partners Luke Hastings and Mark Smyth, together with Senior Associate Sarah Webster, cast a spotlight on greenwashing and explore how this topical issue is affecting the financial services sector. Soundcloud | Spotify | Apple      About the FSR GPS Podcast Series Our “FSR GPS” podcast series explores topical and emerging issues in financial … Read more

FSR GPS Podcast Series – EP3: Breach reporting reflections on disclosure errors & LPP

EP 3: Breach reporting reflections on disclosure errors & LPP In this episode, Senior Associate Shan-Verne Liew, and solicitors Abby Sutherland and Henry Gallagher reflect on some real life examples of potentially reportable scenarios with a focus on inadvertent system or disclosure errors, as well the importance of legal professional privilege when investigating incidents. Soundcloud | … Read more

FSR GPS: WHEN IS AN INCORRECT MISSTATEMENT NOT MISLEADING OR DECEPTIVE?

In this edition of the FSR GPS, we highlight some key principles that can help AFS licensees identify when an immaterial misstatement may: not constitute misleading or deceptive conduct; and therefore, not automatically be reportable as a significant breach to ASIC under section 912DAA of the Corporations Act 2001 (Cth) (Corporations Act). As with our … Read more