The Labor party is considering more stringent anti-money laundering and counter-terrorism financing (AML/CTF) laws, including extending protections against dirty cash to so-called ‘gatekeepers’ of the financial services and general corporate industries, including, the real estate, accounting, trust/company service provider and legal professions. Australia is one of just three major developed countries […]
In response to the high-profile Medibank and Optus data breaches in recent weeks, the Albanese Government has sought to introduce legislation to significantly increase penalties for repeated or serious privacy breaches. The Privacy Legislation Amendment (Enforcement and Other Measures) Bill 2022, passed the House of Representatives on 9 November 2022, and […]
On 8 September 2022, the Australian Securities and Investments Commission (ASIC) has reported on its surveillance of responsible entities and fund managers for false or misleading representations about investment performance. Background ASIC’s managed funds surveillance is the successor to ASIC’s ‘True to Label’ initiative whereby, ASIC originally commenced monitoring of the […]