Author: rebecca-exley

What Are the New Proposed Rules when Designing and Distributing Retail Products?

The Assistant Treasurer introduced the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Bill 2018 (Cth) (Bill) in September 2018. If passed by Parliament, the Bill will make significant changes to the way retail financial products are designed and distributed to improve consumer protection. It also enhances ASIC’s powers to intervene in situations where consumers are put at risk.

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Treasury Laws Amendment (Enhancing Whistleblower Protections) Bill 2017 (Cth) Update: What Does it Mean?

‘Blowing the whistle’ – after a lengthy consultation phase, the draft Treasury Laws Amendment (Enhancing Whistleblower Protections) Bill 2017 (Cth) (Bill) is currently before Parliament having gone through two readings. The aim of the Bill is to create a comprehensive and concise whistleblower protection regime within the Corporations Act 2001 (Cth) (Corporations Act) that extends to the private sector and, in particular, to the corporate, financial and credit industries. Is your corporation, and more importantly are your staff, ready for the changes?

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Foreign Bribery (Part Three): Is the New Crimes Legislation Amendment Bill the Last Piece of the Puzzle?

Foreign Bribery…can impede economic development by skewing competition…[it] corrodes good governance and undermines the rule of law” (the Senate). In part three, we discuss why the Crimes Legislation Amendment (Combatting Corporate Crime) Bill 2017 (Cth) ( Bill) came into effect, whether the Bill puts Australia on an equal footing to combat foreign bribery in the international arena, and whether there is room for improvement or amendment.

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Foreign Bribery (Part One): New Draft Bill 2017

The draft Crimes Legislation Amendment (Combatting Corporate Crime) Bill 2017 (‘the new Bill’) is a welcome addition to the existing criminal offences legislation in Australia, in relation to the bribing of foreign officials. This is the first in a series of releases where we comment on, and analyse, the new Bill and its impact on Australian businesses.

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Industry Reactions vs The Treasury’s Opinion

The Treasury has recently published its opinion in relation to the Banking Royal Commission and the apparent misconduct prevailing within the industry. This, paired with ANZ and IOOF confirming the continuance of their grandfathered commission arrangements, certainly shows that the industry is still in disagreement over how it should be acting.

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