ASIC announces a change in its regulatory focus during the Covid 19 emergency

The announcement by ASIC on Monday 23 March 2020 that it is recalibrating its regulatory priorities to focus on COVID-19 challenges is a welcome relief to the finance industry in these challenging times. ASIC states that it w...

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Government releases raft of draft legislation to implement further recommendations of the Banking, Superannuation & Financial Services Royal Commission

A raft of draft legislation to implement a further 22 of the recommendations of the Banking, Superannuation & Financial Services Royal Commission (Royal Commission) was announced by the Treasurer, the Hon Josh Frydenberg MP on...

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Introduction of Comprehensive Credit Reporting – it is progressing

Legislation to implement mandatory comprehensive credit reporting (MCCR) is progressing in the Senate, having already been passed by the House of Representatives. the National Consumer Credit Protection Amendment (Mandatory Cre...

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What is a dumping continuation inquiry and why will it have a big impact on importers of aluminium extrusions?

Dumping duties payable on the importation of aluminium extrusions continues to be a key focus of the Australian Border Force.  This is not surprising given that inadvertent non-compliance remains high and the relevant duty rates ...

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Variations to the Credit Reporting Code (CRC)

A variation to the Privacy (Credit Reporting) Code 2014 (the "CR Code") has been approved by  the Australian Information Commissioner ("OAIC")  commencing 14 February 2020. The OAIC has given a summary of the changes: Wr...

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Modern Slavery Act – the implications for businesses in Australia

When we think of slavery, we don't think of Australian businesses. However, more than half of our imported goods come from Asia and the Pacific, an area that accounts for 62% of the global estimate of people in modern slavery.[1] ...

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