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NEW UNFAIR CONTRACT TERMS INVESTIGATION POWERS AND GIFT CARD REFORMS – RECENT UPDATES TO CONSUMER LAWS

By Sky Kim and Kerensa Sneyd On 26 October 2018, two amending Acts commenced that will further improve consumer protections and enhance regulator powers. Unfair contract terms investigation powers for ASIC New protections for consumers and small businesses against the … Continue reading

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Emerging role for APRA as a conduct regulator?

By Kerensa Sneyd Professionalism in financial services was the topic addressed last Thursday 11 October by a range of speakers presenting at the 2018 FINSIA Summit.  Throughout this year, key regulators have spoken openly about the importance of professionalism in … Continue reading

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Mixers, cold storage and onions…cocktail party or digital money laundering?

By Amy Ciolek and Julia Massarin With terminology such as mixers, cold storage, tumblers and Onions (Onion Routers) (TOR), one may be excused for overlooking the significance of money laundering the digital age. FATF Report to G20 Finance Ministers and … Continue reading

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Current APRA Superannuation Initiatives

This page is an extract from the presentation addressing current APRA superannuation initiatives, and in particular: APRA Related Party Arrangements Thematic Review APRA Discussion Paper – Post-implementation review of APRA’s superannuation prudential framework We hope that this summary and overview … Continue reading

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Community Expectations – Code or Codification?

By Michael Vrisakis The Royal Commission has become a channeling medium for community expectations as a standard of conduct.  One of the issues this raises is whether we have to wait for a Royal Commission in order to heed the … Continue reading

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Welcome to the HSF Regulatory, Governance, Remediation and Culture Portal

Our Regulatory, Governance, Remediation and Culture team (RGRC) will bring you thoughtful insights, RGRC updates and industry highlights.  We would love for you to interact with us, so feel free to leave a comment, or reach out to us directly. We … Continue reading

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Filed under AML/CTF & Sanctions, Australia, Banking, Credit, Culture & Governance, Financial Products & Advice, Fintech, Life Insurance, Privacy & Open Banking, Regulation & Remediation, Superannuation, Uncategorized