Bright Law
Bright Law provides financial services regulatory compliance and training services and, through Bright Corporate Law, legal services. We provide our clients with confidence to manage regulatory risks through guidance, insight, advice and training.
Website:
https://www.brightlaw.com.au/
ASIC’s 2026–27 sector supervisory priorities
ASIC has published its supervisory priorities for 2026-27 for the banking, superannuation, general insurance, life insurance and financial markets sectors.Banking sector: ASIC will review the use of AI in customer-facing activities, decision-making and lending processes (including governance and
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Case note: claims handling breaches penalty
In Australian Securities and Investments Commission v Hollard Insurance Partners Limited [2026] FCA 1487, the Federal Court of Australia ordered Hollard to pay a $2 million penalty after Hollard admitted that its serious claim-handling failures resulted in Hollard breaching
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APRA proposes changes to superannuation trustee investment governance
The Australian Prudential Regulation Authority (APRA) has released a package of proposals to strengthen trustee investment governance to protect members’ retirement savings through a revised Prudential Standard SPS 530 Investment Governance for Responsible Superannuation Entity licensees.The proposals increase requirements across
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AFCA scam-related complaints rules
The Australian Financial Complaints Authority (AFCA) has released a consultation paper on proposed changes to its Scheme Rules to enable it to consider scam-related complaints under the Scams Prevention Framework (SPF) from 31 March 2027. Background.The Australian Government has
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Banking Industry Guideline on financial abuse
The Australian Banking Association has published an updated industry guideline of good industry practice for how banks may support and provide extra care for customers experiencing financial abuse.The guideline says that “financial abuse occurs when another person exerts power and
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Responding to multi-regulator issues
With Memoranda of Understanding in place between financial services regulators covering information sharing, and in response to increased expectations from the Government, cybersecurity breaches, AI rogue agents attacks and AML/CTF non-compliance by the same organisation can now result in multiple
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Private credit best practice principles
In a recent speech ASIC Commissioner Simone Constant stated that ASIC is undertaking active surveillances across wholesale and retail funds to check whether all private credit participants are adopting its 10 principles for private credit (pdf) as a practical benchmark
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Privacy reform update September 2026
The Australian Attorney-General has released a Consultation Paper and Exposure Draft Privacy Amendment (Personal Data Protection) Bill 2026 to modernise and strengthen Australia’s privacy laws as well as responding to emerging risks from new technologies, including artificial intelligence, wearable surveillance
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Consumer Credit Responsible Lending Small Business Exemption
The National Consumer Credit Protection Amendment (Small Business Exemption) Regulations 2026 have been registered to amend the National Consumer Credit Protection Regulations 2010 by extending the existing exemption from responsible lending obligations for small business borrowers for 10 years from
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