Gadens Regulatory Recap – 21 August 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, OAIC, ACCC, and Treasury including various enforcement actions taken by the regulators. ASIC Financial advice update: The Financial Advice Update, published by ASIC on 9 August 2024, highlights key regulatory developments affecting Australian financial services (AFS) licensees and financial advisers. The update […]
ReadmoreGadens Regulatory Recap – 8 August 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, OAIC, ACCC, and Treasury including various enforcement actions taken by the regulators. ASIC ASIC’s first greenwashing case results in landmark $11.3 million penalty for Mercer The Federal Court has ordered Mercer Superannuation (Australia) Limited (Mercer) to pay $11.3 million in penalties in […]
ReadmoreGadens Regulatory Recap – 29 July 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, OAIC, ACCC, and Treasury including various enforcement actions taken by the regulators. ASIC ASIC and OAIC share Memorandum of Understanding on information sharing to accelerate data and privacy breach responses: ASIC and the OAIC have agreed to and entered a Memorandum of […]
ReadmorePrivacy & Data Law Series | ALI and ALJ (Privacy) [2024] AICmr 131: Australian Privacy Principles and application of the employee records exemption
In the recent decision of ALI and ALJ (Privacy) [2024] AICmr 131 by the Australian Privacy Commissioner (the Commissioner), an employer was held to have breached Australian Privacy Principle (APP) 6.1 which governs the use or disclosure of personal information under the Privacy Act 1988 (Cth) (Privacy Act). This came after the employer unsuccessfully relied […]
ReadmoreGadens Regulatory Recap – 11 July 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, AFCA, ACCC, Treasury, and legislative updates, including various enforcement actions taken by the regulators. ASIC AFS licensees required to notify ASIC about ‘experienced provider pathway’ declaration From 1 July 2024, AFS licensees must notify ASIC within 30 business days if they receive […]
ReadmorePrivacy & Data Law Series | Where are we now?
2024 is proving to be another significant year in the evolving privacy and data law environment. We have had some watershed announcements following the developments that took place during 2023, including the Government’s proposal to fast-track to August 2024 certain of the agreed changes proposed in their response to the Privacy Act Review Report (in particular […]
ReadmoreGadens Regulatory Recap – 26 June 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, AFCA, AUSTRAC, OAIC, ACCC, Treasury, the Council of Financial Regulators, and legislative updates, including various enforcement actions taken by the regulators. ASIC ASIC grants class no-action position to second party opinion providers: On 14 June 2024, ASIC issued a class no-action position […]
ReadmoreOAIC Medibank action a wakeup call for organisations to uplift privacy compliance
The Office of the Australian Information Commissioner (OAIC) has made data breaches a regulatory priority for 2023-2024, with an increased focus on regulatory action where there may be serious failures to take reasonable steps to protect personal information, inappropriate data retention practices or failures to comply with the notification procedure from the Notifiable Data Breaches […]
ReadmoreGadens Regulatory Recap – 11 June 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, AUSTRAC, OAIC and ACCC including various enforcement actions taken by the regulators. ASIC 5 million+ Australians have struggled to make loan and debt repayments, yet many not asking for help: ASIC is launching a new awareness campaign Just Ask! Hardship Help […]
ReadmoreGadens Regulatory Recap – 29 May 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, AFCA, ATO, AUSTRAC, OAIC, ACCC, Treasury and the RBA, including various enforcement actions taken by the regulators. Federal Budget Federal Government Budget: The Federal Government announced the 2024-25 Federal Budget on 14 May 2024, setting the Government’s key policy agenda for the […]
ReadmoreGadens Regulatory Recap – 16 May 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ATO, ACCC, Treasury and the RBA, including various enforcement actions taken by the regulators. ASIC Scam alert: Scammers are changing the way they impersonate financial services businesses in sophisticated bond and term deposit scams: ASIC has issued a warning to consumers about a […]
ReadmoreDraft legislation on Privacy Act Reforms brought forward to August as the Government respond to the ‘violence against women’ crisis
The Federal Government has announced a suite of preventative measures and legislative reforms following a national cabinet meeting yesterday addressing violence against women in Australia. Notably, the Government will bring forward legislation in August outlawing the release of private information online with an intent to cause harm, also known as ‘doxxing’. This is in addition […]
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