Author: Lauren Osbich

Modern Slavery (Part One): Does the Federal Modern Slavery Bill Live up to the Expectations Set by NSW?

Many companies largely underestimate their role in eradicating modern slavery from society. With the new Federal Modern Slavery Bill 2018 (the Bill) and the newly assented NSW Modern Slavery Act 2018 (the NSW Act) imposing financial penalties for non-compliance, companies will be required to demonstrate through public reporting requirements their approach to understanding and managing the risks of modern slavery in their operations and supply chains.

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Complaints Handling and the Transition to AFCA – A Necessary Evil?

With the Banking Royal Commission in full swing, the culture of financial services companies is under the spotlight. One of the key processes by which ethical conduct can be encouraged is by having a robust and transparent complaints handling program, encouraging internal and external commentary and avoiding the need for external agencies and legal action. However, if the need arises to use an external complaints handling agency (once the Internal Dispute Resolution (IDR) Process fails), financial services companies should be prepared for the transition period to the Australian Financial Complaints Authority (AFCA) and the impact on their internal processes.

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Changes to ASX Corporate Governance Principles – Draft Consultation Released

In this article, we look at the ASX Corporate Governance Council’s current consultation on proposals to update and issue a fourth edition of its Corporate Governance Principles and Recommendations (CGPRs). The Office of the Australian Information Commissioner’s (OAIC) recently released detailed guidance to assist Australian businesses to understand the new requirements in the European Union (EU) General Data Protection Regulation (GDPR) and how to comply simultaneously with EU and Australian privacy laws.

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Notifiable Data Breach Scheme: 8 Weeks, 63 Notifications and One Facebook Scandal Later

Since the Notifiable Data Breach (NDB) Scheme has been in effect, there have been 63 mandatory data breach notices filed. The ongoing Facebook personal information issue also brings into sharp focus the privacy obligations of all organisations governed by the Privacy Act 1988 (Cth) and the Australian Privacy Principles (APPs). In addition, some Australian companies are now faced with the new European Union (EU) General Data Protection Regulation (GDPR), which, if applicable, will require compliance before 25 May 2018.

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Continuous Disclosure Changes and Credit Hardship Arrangements

The regulators have been busy in the last week with the ASX releasing new changes to Guidance Note 8 which provide guidance on continuous disclosure obligations as a result of issues in disclosures of material customer contracts, and ASIC extending exemptions for credit hardship arrangements through the release of Credit (Amendment) Instrument 2018/114.

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