On September 11, 2019, the Treasury released a set of draft legislation for public comment, which implements the recommendations issued by the ASIC Enforcement Review Taskforce Report.
On August 19, 2019, the Australian Treasury released its Financial Services Royal Commission Implementation Roadmap, which is part of its commitment to take action on all 76 recommendations...
On August 16, 2019, the Australian Treasury launched a consultation on the design and operation of the financial institutions supervisory levies. The discussion paper focuses on the methodology...
On July 26, 2019, the Australian government launched a public consultation on the Currency (Restrictions on the Use of Cash) Bill 2019, which, as noted in the explanatory memorandum, introduces...
The Australian government has said it will re-introduce legislation this week to enable open banking to begin on schedule in February 2020, but its reception from opposition parties remains...
On June 14, 2019, the Australian Treasury released a consultation paper on the second version of a draft designation instrument for the application of the Consumer Data Right to the banking sector....
The Australian competition regulator has issued draft rules for financial data portability under the proposed Consumer Data Right — the foundational legislation for bringing open banking to the...
The beginning of open banking in Australia could hit another snag after the opposition Labor Party flagged its intention to propose amendments to a bill establishing a Consumer Data Right.
Voluntary industry codes could gain greater legislative weight in Australia, as the government there is consulting on proposals to give regulators powers to prescribe those standards and enforce...
On March 18, 2019, the Australian Treasury launched a consultation on the enforceability of financial services industry codes following the commitment of the government to implement Recommendation...
On January 23, 2019, the Australian Treasury released a consultation paper regarding the implementation of a reporting regime for sharing economy platform providers, following recommendations...
Consumer and privacy watchdogs have heavily criticised the draft Australian law to facilitate the launch of open banking in the country, while fintechs eager to move onto legacy banks’ turf urge...
On December 21, 2018, the Australian government published a draft privacy impact assessment on the Consumer Data Right (CDR), in accordance with the Australian Privacy Principles (APP) Code 2017...
Australia’s top representative body for banks has accused the Treasury of underestimating the fraud and cybersecurity risks of data sharing under the country’s proposed open banking regime. 
The beginning of Australia’s open banking regime has hit a snag after political turmoil and “complex issues” during consultations forced the competition watchdog to delay the introduction of a...
On November 22, 2018, the Australian government published a consultation paper seeking feedback on the effectiveness of the extension of unfair contract term (UCT) protections to small business....

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