Financial Services and Credit Quarterly Update January 2023

Welcome to 2023.

Our free Financial Services and Credit Quarterly Update for the fourth quarter of 2022 is available here.

What lies ahead this year? The developments over the last year may give an indication. Some of the things that we think can be expected include:

• enacting regulation of Buy Now Pay Later;

• passage of the Financial Accountability Regime (FAR) legislation;

• legislation developed for the new regulatory framework of the payments system;

• progress towards regulation of digital (crypto) assets;

• more market interventions by ASIC using its design and distribution obligations powers; and

• hopefully, some measures to address operational issues with the new breach reporting regime.

As always, if you have questions about any of the developments in our update or if you need assistance, please get in touch.

Patrick Dwyer and Kathleen Harris
Legal Directors