This guide provides corporate counsel and international practitioners with a comprehensive worldwide legal analysis of the laws and regulations relating to fintech. Peter Reeves has authored the Australia chapter since the inaugural edition.
The ASX Corporate Governance Council is turning the underlying focus of the Principles and Recommendations on its head with a new draft fourth edition. ASX listed entities will need to undergo some serious self-reflection in order to comply with the draft fourth edition. The fourth edition and related consultation were published in early May.
After much anticipation by the exploration industry, the Government has introduced a bill for the new Junior Minerals Exploration Incentive. The JMEI allows greenfields minerals explorers to attract new capital investment by passing on a portion of their exploration deductions to the investors in the form of a tax offset. However, the devil is in the detail, and explorers (and investors) may find that the program’s strict timeframes, yearly requirements and caps limit the program’s usefulness.
The Australian Government released an exposure draft for the first phase of its integrity package targeted at stapled structures on 17 May 2018 following the announcement of the package on 27 March 2018. The exposure draft also deals with thin capitalisation and foreign pension fund changes.
The 2018-19 Federal Budget confirmed many of the pre-Budget leaks. Scott Morrison’s third Budget is a budget of five key themes: tax relief, jobs, tax-related changes, essential services guarantees, and safety measures.
The European Union’s (EU) General Data Protection Regulation (GDPR) – the most significant overhaul of Europe’s data protection laws in recent memory – will come into force on 25 May 2018. From that date, any organisation to which the GDPR applies will need to ensure that all of its relevant data processing practices (including those ongoing under pre-existing arrangements) are compliant with its provisions.
The Australian Securities and Investments Commission has updated its INFO225 Initial coin offerings and cryptocurrency information sheet to further clarify its position on the treatment of initial coin offerings.
A round up of key relevant legislation, enacted or proposed, over the last month including recent rumblings by the Government to bolster penalties for corporate and financial misconduct, Treasury’s client money reform agenda and the Government’s approach to Managed Investment Trusts and stapled structures.
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At Gilbert + Tobin, our team looks at technology influences as they apply to all industries. We advise on the impacts of technology on the contract structures, the laws and the corporate/commercial processes that underpin your business. Our focus, like yours, adjusts as your company and your industry demands dictate.