The Blog


Conduct that’s not so Unconscionable?

On Wednesday the High Court found against the Australian Securities and Investments Commission (ASIC) in its unconscionable conduct claim against APY lands general store owner Lindsay Kobelt. A brief history of the matter and the ‘book-up’ system. The ‘book-up’ system, used by Kobelt’s store, dates back to the 1940s and is a common practice among… Read more


Why not litigate?

‘Why not litigate’? This was the message from the ASIC Commissioners at the ASIC Annual Forum 2019 held in Sydney last week. On the back of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (‘Royal Commission’) ASIC made it clear that while still utilising the full range of enforcement tools… Read more


Increased penalties under the Privacy Act

On 25 March 2019, the Federal Government announced plans to increase penalties for breaches of Australia’s privacy laws. Legislation is being drafted for consultation in the second half of 2019. Although targeted at social media platforms, the new increased penalties will affect all entities required to comply with the Privacy Act 1988 (Cth) (‘Privacy Act’).… Read more


New Year – new laws for financial planners

If you are an Australian financial services (‘AFS’) licensee (or for that matter an authorised representative, employee or director of an AFS licensee) (‘Relevant Persons’) you may want to consider making compliance with the new financial services laws requirements your new year’s resolution! The Relevant Persons of AFS licensees who provide personal advice to retail… Read more


Australian Businesses Beware! – First formal enforcement notice issued under the GDPR

Just when the initial panic surrounding the implementation of the GDPR has subsided, the UK Information Commissioner’s Office (ICO) has recently issued its first enforcement notice and to a foreign company at that! AggregateIQ Data Services Limited (AIQ), a data analytics firm operating out of Canada, was issued with the notice, which requires the company… Read more


Has there been a better time to invest in biotech?

AusBiotech described 2017 as the best year yet for the biotech industry in Australia.  The $500 million Biomedical Translation Fund (‘BTF’) has been a key driver of investment into the sector, announcing its first investment in May 2017 and four more in the backend of last year, with a total value of around $40 million.… Read more


In the age of ‘Big Data’, will your business be compliant with the Privacy Act come 22 February 2018?

We’re all beginning to understand that data is critical to decision making and as the age of ‘Big Data’ draws closer, the ability to collect and store information on individuals is becoming increasingly important. Businesses seeking to capitalise on the value of this information may not realise that obtaining it comes with obligations to protect… Read more