Insights
Cloud Services: Why using the cloud doesn’t make you ‘Cyber-safe’
Many companies believe that using the "Cloud" transfers all of their cyber risk to the provider - but this is simply not true. Companies have many of the same responsibilities, and even some new liabilities, when using Cloud-based services.
Unfair contracts changes: wider scope and new penalties
Under recent changes to the ACL, unfair contract terms are now illegal and attract heavy fines. Not only that, but the range of business customers caught has been dramatically extended. In simple terms, if you use a contract frequently, and negotiate it rarely, you are probably impacted.
Our approach to costs in disputes
For any client with a dispute, costs will be a key concern, which makes it a key concern for us. At AB, our experience has taught us some valuable lessons around how to approach litigation costs from a strategic perspective.
Complex Debt Matters
Recovering large or old debts can be a challenging exercise for any individual, company or business owner. With a proactive approach and some expert guidance, there a number of non-standard methods available that can lead to successful recovery.
Why should you participate in ASIC’s Cyber Pulse Survey?
It is not often that you get a chance to benchmark your business against the industry and ASIC’s position in a core regulatory risk area (especially for free), yet that is exactly what ASIC’s new Cyber Pulse Survey allows you to do.
9 reasons your TMD might be defective
Despite the industry-wide effort that went into the FSC standardised template for Target Market Determinations, including extensive consultation with ASIC, it now appears a serious mismatch has developed between existing TMD’s and ASIC’s expectations. The result is that many TMDs that were made with the best of intentions may now be defective. We’ve listed some of the common pitfalls.
Compliance Outsourcing: A Model that Works
At AB we believe that Compliance is perfectly suited to an outsourced model. By working together from the outset, we are confident that a great solution can be designed for any client.
Anti-Hawking: What’s changing?
Anti-hawking regulation is nothing new – in fact the current regulations came into effect in 2002, and have always (basically) prohibited businesses from offering a financial product through an unsolicited meeting or phone call. Commissioner Hayne determined that this didn’t go far enough as, even when the hawker is not ‘unscrupulous’ the consumer is nonetheless ‘unsuspecting’. What does that mean? Read on…
Cyber risk management: now a core AFSL obligation
The decision in ASIC v RI Advice Group has wide-reaching implications for AFSL holders, and should prompt many to review their cyber-security arrangements ASAP. The AB Cyber team explains in more detail.
Duty of disclosure: what’s changing?
The result of another Royal Commission recommendation, as of 5 October 2021, insurance sold to retail will no longer benefit from the protection of the duty of disclosure. Instead, it will be replaced with a lesser duty – a duty to take reasonable care not to make a misrepresentation to an insurer. Let us explain the difference.
ASIC Breach Reporting Changes
ASIC's new breach reporting rules: Automatic reporting for some breaches, tighter scrutiny, more frequent reporting - from 1 Oct 2021.
AFCA Guide – Not a Level Playing Field
Even on a stand-alone basis, AFCA is a deeply problematic forum for financial services licensees, and being a member will dramatically increase the financial risk attached to a financial services business.