Search for:
Category

Australia

Category
In Cybersecurity, Data and Tech

Australia: Public consultation on Scams Prevention Framework now open

by , , , and 1 Min Read

On 13 September 2024, the Australian Government opened public consultation on the proposed Scams Prevention Framework. The Scams Prevention Framework introduces economy-wide reforms designed to combat scams and enhance consumer protections across multiple sectors including banking, telecommunications and digital platform services. Under the proposed regime, regulated entities in designated sectors will be required to take positive steps to detect, prevent and disrupt scams, with significant civil penalties for non-compliance.

Read More
In AML & Financial Services Regulatory

Australia: New safety measures introduced for AI

by , , , and 5 Mins Read

On 26 July 2024, the Monetary Authority of Singapore (MAS) updated the Guidelines on Licensing for Payment Service Providers (PS-G01), which became effective on 26 August 2024. These changes are applicable to current and future Standard Payment Institutions (SPIs) and Major Payment Institutions under the Payment Services Act (PSA).
The updates can be divided into those that relate to (i) the application process for a new MPI or SPI license or a variation of an existing license under the PSA; and (ii) those that relate to ongoing business conduct.

In Anti-Corruption

Australia: Criminal liability offence for companies that cannot prove they have adequate procedures to prevent foreign bribery

by , and 2 Mins Read

At the end of August 2024, the Attorney-General published its final guidance on adequate procedures to prevent the commission of foreign bribery. The guidance follows the passage of the Crimes Legislation Amendment (Combatting Foreign Bribery) Act 2024 earlier this year which introduced the new offence of failing to prevent foreign bribery, under which companies can be held directly criminally liable for the foreign bribery activities of their employees, external contractors, agents and subsidiaries, unless the company can demonstrate it had adequate procedures in place to prevent the bribery.

In Antitrust / Competition

Australia: Treasury releases proposed merger notification thresholds

by , and 3 Mins Read

On 30 August 2024, the Australian Treasury released a consultation paper on the proposed monetary and market share thresholds that will trigger a requirement to notify an acquisition to the Australian Competition and Consumer Commission (ACCC) under the Federal Government’s proposed new mandatory merger control regime. It is proposed that transactions which meet either of the thresholds must be notified to, and approved by, the ACCC, with penalties imposed for any failure to notify or for implementation of a notifiable merger without prior notification to the ACCC. The closing date for submissions is 20 September 2024.

Read More
In Employment

Australia: Right to disconnect – Working 9 to [to be determined…]?

by , , and 9 Mins Read

A new workplace right – a ‘right to disconnect’ – has been introduced by the Fair Work Legislation Amendment (Closing Loopholes No. 2) Act 2024, with effect from 26 August 2024 (or 26 August 2025 for small business employers). On 23 August 2024, a Full Bench of the Fair Work Commission finalized the new “right to disconnect” model term, which will soon be inserted into all modern awards. Whilst we wait for the Fair Work Commission (FWC) to issue its guidance on the new workplace right, here’s what you should know, and what we think you should do to prepare for the introduction of the right to disconnect.

In Cybersecurity, Data and Tech

Australia: Online Safety – Statutory review issues paper and Pilot of Age Assurance Technology

by , and 2 Mins Read

On 29 April 2024, the Department of Infrastructure, Transport, Regional Development, Communications and the Arts opened public consultation as part of the ongoing independent statutory review (“Review”) of the Online Safety Act 2021 (Cth) (“Act”) with the release of an Issues Paper (“Issues Paper”). Public consultation will close on 21 June 2024, with the final report of the Review expected to be provided to Government by 31 October 2024.

In ESG

Australia: Federal budget 2024-25 – Key takeaways for the Energy Transition

by , , , and 9 Mins Read

As Australia transitions to net zero, the 2024-25 Australia federal budget handed down on 14 May 2024 contains significant initiatives relating to renewable energy, hydrogen, critical minerals, green metals, low carbon liquid fuels and clean energy technology, with the AUD 22.7 billion “Future Made in Australia” package as a centerpiece. Through new or additional incentives and other funding, the Australian Government aims to attract investment in key industries for the energy transition and make Australia “a renewable energy superpower” as well as add value to the resources sector, particularly critical minerals, and strengthen economic resilience and security.

Read More
In Corporate Compliance

Australia: Changes to Australian Franchise Laws set for later this year

by , , and 4 Mins Read

Our 16 February 2024 Client Alert reported on the recommendations of the Federal Government’s Independent Review of the Franchising Code of Conduct (“Code”). 

We noted that the recommendations were largely sensible and light touch and that the Review considered that the Code was generally fit-for-purpose.

The Government has now released its formal response, adopting the Review recommendations in full.

In Cybersecurity, Data and Tech

Australia: Public consultation on National Classification Reform

by , and 6 Mins Read

On 4 April 2024, the Minister for Communications opened consultation on significant and comprehensive stage two reforms to the National Classification Scheme (“Scheme”). The Scheme is comprised of a number of laws and regulatory instruments – together, operating as a regulatory framework for classifying films, certain publications and computer games under cooperative arrangements between the Commonwealth, and the States and Territories. In addition, the Scheme directly underpins the online content scheme in Part 9 of the Online Safety Act 2021 (Cth) (“OSA” ) and informs elements of the broadcast television self-classification requirements in place under industry codes of practice under the Broadcasting Services Act 1992 (Cth).

Read More
Load More