A round up of key relevant legislation, enacted or proposed, over the last month including mandatory data breach reporting, a number of key banking reforms (including the banking executive accountability (BEAR) reforms and the release of the open banking report), toughening of the multi-national tax avoidance laws and proposed changes to the Australian Consumer Law.
This update explores the proposed enhanced regulatory sandbox framework introduced into Parliament, the Report of the Review into Open Banking, and international developments in cryptocurrencies across Europe.
On 5 February 2018, the Federal Court’s decision in Resource Capital Fund IV (RCF) shook the Australian private equity (PE) market with a dramatic shift from industry practice. It is important to note that the decision does not purport to address the legal personality of limited partnerships (LPs) in any jurisdiction – just the tax treatment i
The fintech sector has witnessed some unprecedented developments throughout 2017. In the last two years alone, there has been a doubling of active fintech businesses operating in Australia and in this rapidly evolving landscape, Australian regulators and policy-makers have been responsive to facilitating fintech innovation.