241-250 of 1144 results
Portfolio Holdings Disclosure regulations: key aspects of the revised regime
The long-awaited Portfolio Holdings Disclosure (PHD) regulations were made on 11 November 2021, which will give superannuation trustees certainty about the manner in which portfolio holdings information needs to be disclosed to the public. ...
ASIC consults on relief for superannuation calculators and forecasts
ASIC has released Consultation Paper 351: Superannuation forecasts: updates to relief and guidance seeking feedback on proposals to extend and expand the relief for superannuation calculators and retirement forecasts. It has also released the draft relief instrument and draft regulatory guide. ...
A tale of two OAIC investigations – privacy implications for the use of facial recognition technology
Determinations issued by the Office of the Australian Information Commissioner (OAIC) following two recent investigations against 7-Eleven and Clearview AI, reinforce a global trend of growing regulatory scrutiny of the use of facial recognition technology by private sector organisations, and follows Facebook's recent decision to shut down its facial recognition system. ...
What APRA's proposed changes to SPS 530 Investment Governance and findings on unlisted asset valuations mean for superannuation investments
As promised in its 2021 Policy Priorities, APRA has released its draft revised prudential standard Investment Governance (SPS 530) for RSE licenses, and the outcomes of its review of unlisted asset valuations, as part of its report titled Findings from APRA’s superannuation thematic reviews. ...
High Court ruling that 'backpacker tax' is discriminatory invites consideration of other potentially disapplied discriminatory tax provisions
In the recent decision of Addy v Commissioner of Taxation, the High Court ruled that the so-called 'backpacker tax' contravened the non-discrimination article contained in the double tax agreement between Australia and the United Kingdom (UK). ...
The growing importance of ESG due diligence
Environmental, social and governance (ESG) issues are a major focus of many companies, their stakeholders and regulators. Companies are exploring how to embrace the opportunities that may arise from a well-executed ESG strategy and navigate the risks that ESG issues present, particularly in a period of evolving laws and standards, stakeholder expectations and shareholder activism. ...
Emerging ESG disputes risks and key mitigation strategies
Pressure is emerging from multiple angles – regulation, investors, employees and communities – to have a proactive approach to ESG issues. In this Insight, we highlight current trends in ESG disputes and outline the key strategies companies should be implementing right now to mitigate ESG disputes risk. ...
Privacy Act reforms: a new Online Privacy Code
In late October, the Attorney-General's Department released a long-awaited Exposure Draft of the Privacy Legislation Amendment (Enhancing Online Privacy and Other Measures) Bill (Online Privacy Bill) to amend the Privacy Act 1988 (Privacy Act). ...
October compliance deadlines: rounding up the last-minute changes
October marks the commencement of the design and distribution obligations (DDO) regime, the deferred sales model for add-on insurance (DSM), changes to the anti-hawking rules, refreshed standards for internal dispute resolution systems and, to top it all off, a new breach reporting regime. ...
ASIC publishes updated guidance on hawking reforms
Under the new hawking prohibition in sections 992A and 992AA of the Corporations Act 2001 (Cth) (Corporations Act), a person must not offer a financial product to a retail client (consumer) in the course of, or because of unsolicited, real-time contact. ...