Sandbox or sandtrap?

Like many occupations and professions today, you must get a licence to carry on a financial services or consumer credit business, unless you’re lucky enough to fit within an exemption. It’s not easy to get a financial services or credit licence. But until you get one, you can’t really test …

“Worth the Whistle”​ – Australia to shake-up whistleblower laws

Whistleblower laws in Australia have been the subject of recent media and parliamentary scrutiny, with calls for greater protections for those who disclose wrongdoing. As part of an agreement with Senator Nick Xenophon to get its industrial relations reforms through the Senate in November 2016, the Federal Government agreed to …

Fixed once and for all

The GE TM2500 GTG gas turbine generator is big machine. It’s 24 metres long and 7 metres wide, weighs over 100 metric tonnes, and can generate net 34 MW of power. Forge Power rented two of them from GE for its temporary power station in Port Hedland, Western Australia. The …

Robo-advice: just advice, or is it a product?

Robo-advice is getting a lot of attention now, but online tools to assist in making financial decisions have been around in various forms for years. Back in 2004, there was an investor website with a focus on US stocks. Subscribers could use it to search for stocks that met investment …

Data access and transfer rights – a new regulatory framework proposed

The generation of data is increasing exponentially: it is estimated that 90% of the world’s information has been created in just the last two years. The Productivity Commission believes Australia’s regulatory framework to deal with this tsunami of information is out of date and needs to be overhauled. Its draft …

A reversal of fortune for reverse mortgages?

The cost of the age pension keeps growing, but so does the value of housing assets. Could this lead to more demand for products like reverse mortgages that let seniors access the value of their homes? Pension costs rising The population is getting older and people are living longer, which …

Equity crowdfunding state of play

Equity crowdfunding offers the prospect of small companies and start-ups raising capital quickly and cheaply from a large number of investors using internet based platforms. Australia is lagging behind the US and the UK in putting in place laws to enable crowdfunded equity investments. A draft Bill was introduced in …

Could lending to small business end up like consumer lending?

NCCPA NCCP consumer credit ACL credit licensing lawyers experts

These days, small businesses are often seen by governments as a vulnerable class like consumers who need to be protected by regulation. Assistance to small business has been a priority for the Coalition Federal Government. It has gone so far as to create a taxpayer funded advocate for small business …