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MORE ON BITCOIN REGULATION. 08 Oct 2014
Bitcoin is the first decentralized peer-to-peer payment network powered entirely by users, answering to no central authority and dependent upon no middlemen. But does it need a specific regulatory framework? Currently the world’s most widespread alternative currency, the total market capita ..
PROPORTIONATE LIABILITY. 25 Sep 2014
Businesses (and their insurance brokers) waiting with bated breath for new model proportionate liability laws may be sorely disappointed. The basic principle of proportionate liability is that it enables responsibility for a damages claim to be allocated according to the degree to which eac ..
CHOOSING THE RIGHT COMPANY STRUCTURE. 23 Sep 2014
When you're in start-up phase, there are millions of business decisions to make. One of the most important decisions is your business structure. Many people choose to use a company structure as opposed to other things like partnerships or sole trader because of the taxation benefits and the  ..
ASIC REVIEWS BREACH REPORTING. 18 Sep 2014
Concerned about inconsistencies in AFS licensee breach reporting practices, ASIC is investigating the robustness of AFS Licensees' processes for identifying, escalating and reporting breaches. Companies are often reluctant to report breaches until their directors or lawyers have looked at t ..
BRIDGE TO BRISBANE RUNNING RACE. 15 Sep 2014
What a great turn out for the Bridge 2 Brisbane! Charmian ran 10km with our friends from Aylward Game Solicitors (//www.aylwardgame.com.au/) - Mark, Ian, Libby, Allyce, Nikki, Nat and Michelle. The team that works together also like to run together!!! The aim on the day (other than to f ..
LRBA CERTIFICATES FOR SMSFS. 09 Sep 2014
While you no doubt see it as a necessary client service, you could be crossing the line by completing a lender’s advice certificate for an SMSF client. Advisers who provide certificates for limited recourse borrowing arrangements may inadvertently provide credit advice in breach of the Nati ..
SECURING PERSONAL INFORMATION. 26 Aug 2014
Client records in the garden shed? The Australian Privacy Commissioner recently published reports about two companies that didn’t adequately protect client personal information. So how far must you go to protect client data? Under the Australian Privacy Principles you are required to: Pr ..
CLARITY AROUND PRINCIPAL'S LIABILITY COVER. 18 Aug 2014
Insurers may find that the wording in their public liability policies has them unknowingly covering a principal’s own negligence. Principal’s liability cover is designed to protect the principal against any liability for property damage or personal injury that arises when a supplier provide ..
WHOLESALE CLIENTS - THE GOAL POSTS HAVE CHANGED. 15 Aug 2014
The definitions and requirements surrounding wholesale clients has long caused confusion for financial advisers. On 8 August ASIC changed the goal posts, indicating that it won’t take action against advisers who provide advice to the trustee of an SMSF with less than $10m net assets, provid ..
ASIC CRACKS DOWN ON LATE LODGEMENTS. 12 Aug 2014
ASIC is on the warpath against licensees who fail to comply with their annual reporting obligations. In the past year alone, the regulator has cancelled eight Australian Financial Services Licences, suspended two licensees, with another seven currently under review. AFS licensees are requir ..
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