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.
APRA has published changes to Prudential Practice Guide APG 223 Residential Mortgage Lending and Reporting Standard ARS 223.0 Residential Mortgage Lending relating to how ADIs consider Higher Education Loan Program (HELP) debt when assessing home loan applications.
APRA says its…
The Australian Competition and Consumer Commission (ACCC) has announced that National Australia Bank Limited (NAB) has paid penalties totalling $751,200 after the ACCC issued it with four infringement notices for alleged contraventions of the Consumer Data Right (CDR) Rules.
The…
AUSTRAC has published a revised version of new Anti-Money Laundering and Counter-Terrorism Financing Rules (ED2 AML/CTF Rules) for further feedback following the first round of consultation. They will apply to the amended AML/CTF Act from 31 March 2026 (for existing…
AFCA has opened consultation on proposed changes to its rules to expand its jurisdiction to include the conduct of receiving banks in scam complaints even though the complainant may not have a customer relationship with the bank. Background.
The…
At the election on 3 May 2025 Labor retained Government by increasing its majority in the House of Representatives. But will rely on other parties to pass legislation in the Senate.
The new Parliament is scheduled to sit for the…
The Department of Home Affairs has announced that ransomware payment reporting is now active on this form.
Under section 27 of the Cyber Security Act 2024, a reporting business entity has an obligation to use this form to report…
ASIC has announced that it has sued insurance comparison provider Choosi Pty Ltd for allegedly misleading prospective customers through its funeral and life insurance comparison services.
ASIC claims that Choosi breached sections 12DB and 12DF of the Australian Securities…
The Office of the Australian Information Commissioner has published its Notifiable data breaches report July to December 2024.
In the half year, the highest number of reports came from health providers (121) followed by government (100), finance (54), legal…
Bright Law has published a new video course for new regulated AML entities.
The course consists of an overview (including implications for payments providers) as well as separate sections for real estate services, professional services and dealers in precious metals…
As financial services providers increasingly rely on their online services, it is timely to review the Australian Human Rights Commission’s World Wide Web Access: Disability Discrimination Act Advisory Note which has recently been updated.
The Guidelines have been issued to…
