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06 May 2022
AUSTRALIAN REGULATOR WINS CASE AGAINST FINANCIAL SERVICES LICENSEE FOR INADEQUATE MANAGEMENT OF CYBER RISKS
For the first time in Australia, the Federal Court has found that a failure to adequately manage cybersecurity risks constitutes a breach of general Australian financial service license ( AFSL ) obligations.
05 May 2022
Disputes in the technology industry: Q&A for Practical Law (UK)
Our technology disputes practitioners have recently published a Q&A in Practical Law on Disputes in the Technology Industry (see here for subscribers and here for a pdf) covering all aspects of disputes in the sector including current and future trends
17 December 2021
Online Privacy Bill and Privacy Act Discussion Paper: Increased Enforcement Risk and Regulatory Change
As explored in our earlier briefing article, the recent release of the exposure draft of the Privacy Legislation Amendment (Enhancing Online Privacy and Other Measures) Bill 2021 (the Exposure Draft) and the Privacy Act Review – Discussion Paper (the Discussion Paper ) canvass a wide array of...
09 December 2021
Increasing localisation of data in Asia: Why this matters for tech
We are seeing a trend towards data localisation emerging in certain countries in Asia which is raising business-critical issues for the tech sector. Usually thought of as just a data privacy tool, regulation restricting cross-border transfers of data are gaining support with legislators in China,...
09 December 2021
Legal developments show data privacy trust critical for tech companies
Automated decision making based upon profiling which may be inaccurate or unfair is one of the great dangers of the digital age. It's easy to see the potential for serious harm: the allocation of a university place, a job, a mortgage, insurance or even lifesaving medical treatment on the basis of a...
05 October 2021
Parliamentary intelligence body backs two-step adoption for Australia's new critical infrastructure bill
On 29 September, the Parliamentary Joint Committee on Intelligence and Security ( PJCIS ) published its advisory report on the Security Legislation Amendment (Critical Infrastructure) Bill 2020. 1
26 July 2021
Bills, Parliamentary reviews, industry consultations… the Australian cyber regulation maze is about to become even more complex
On 13 July, the Government published a discussion paper on potential reforms to make Australia more resilient to cyber security trends. The Government considers that the way to get there is to create stronger incentives for Australian businesses to invest in cyber security. Submissions on the...
22 June 2021
Mandatory notification of ransomware payments in Australia appears likely
On 21 June 2021, Shadow Assistant Minister for Cyber Security, Tim Watts, introduced in Federal Parliament the Ransomware Payments Bill 2021 (the Bill ). This follows the Department of Home Affairs secretary, Mike Pezzullo, flagging the idea at a Senate Committee Hearing earlier this year in May...
22 December 2020
Balancing Risks and Opportunities: Data Governance in Australia
Data has become the heartbeat of every business in today’s digital world. It is the key to knowing your customers, remaining competitive and succeeding into the future. Yet it comes with great responsibility – knowing how to use your data and protect it is becoming ever more important. Tune into...
14 December 2020
SFC releases FAQs simplifying compliance with electronic data storage requirements – But is it really as simple as it looks?
The Hong Kong Securities and Futures Commission (SFC) has released its long awaited FAQs regarding its 31 October 2019 circular on the use of external electronic data storage providers (EDSP Circular). While there are some aspects of the FAQs which we anticipate will create practical challenges and...
09 November 2020
Securing Australia’s critical infrastructure: Government reforms will leave no sector untouched, but questions remain
On 9 November 2020, the Department of Home Affairs released the Exposure Draft of the Security Legislation Amendment (Critical Infrastructure) Bill 2020 for consultation, with submissions due by 27 November (the Bill ).
03 November 2020
Submissions sought for Australia’s Privacy Act review
The Australian Government has published an issues paper outlining and seeking feedback on the Privacy Act 1988 (the Act) and other Australian laws protecting personal information, with submissions on a series of 68 questions due by 29 November 2020.
14 July 2020
COVID-19: Exploring Opportunities: Will your technology survive the outbreak? (Global)
The effects of the COVID-19 pandemic across the globe continue to evolve on a daily basis. While this pandemic is first a public health and humanitarian crisis, the impacts of COVID-19 on global and national economies, businesses, supply chains, and the everyday lives of the world’s population are...
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11 August 2022
When notification and disclosure collide
A claim under a Directors and Officers liability policy for investigation, defence and settlement costs has ended with the New South Wales Supreme Court 1 allowing some claims but denying others. The decision is a reminder of the importance of robust internal insurance reporting processes, and of...
08 August 2022
The UPC Rules
On July 2022 the UPC Rules of Procedure (the Rules) were announced as approved with the amendments from the previous (18 th ) draft (from 2017) being published in tracked changes form . One of the most significant changes was to opt-out procedures, as well as changes to restrict access to pleadings...
05 August 2022
Australian regulator consults on new operational risk management prudential standard
The Australian Prudential Regulation Authority ( APRA ) has released its consultation on a new cross-industry prudential standard for operational risk management, CPS 230, which proposes to introduce a range of new requirements on APRA-regulated entities for managing operational risk and enhance...
04 August 2022
Cartel Intel: Interview with Ashley Brickles, Senior Managing Director at FTI Consulting
As part of our quarterly Cartel Intel series, Herbert Smith Freehills' Brussels partner Daniel Vowden sat down with Ashley Brickles, (Senior Managing Director at FTI Consulting) to discuss the latest EMEA cartel developments
04 August 2022
Another one bites the dust – managing risk in scheme transactions in Australia
A series of public M&A transactions in Australia have recently been called off or renegotiated in light of a changing market and worsening economic conditions, highlighting the need for target companies to carefully consider and protect against deal termination risk.
03 August 2022
Tax in M&A in the UK and Europe – What you need to know
The third edition of our comprehensive guide to tax in European transactions breaks down the key tactical issues for deal professionals and boards. From transfer taxes, to debt financing, to post-deal disposal issues – our experts chart the EMEA landscape