Exempt Sellers: the Requirement to hold an Electricity Retail Authorisation or exemption

Exempt Sellers: the Requirement to hold an Electricity Retail Authorisation or exemption

AU Energy Compliance
By Anne Wardell and Connor James, Compliance Quarter. A variety of businesses are involved in the sale of energy. These businesses include caravan parks, building managers, shopping centres, office buildings, airports, industrial parks and solar power providers. Below we look at when an electricity retail authorisation is required and when a person or business can operate under an exemption. Energy sellers in the Eastern States of Australia must either operate under licence or an exemption. The sale of energy, under the Retail Law, includes the sale of energy at cost, i.e. without profit. Our previous articles look at some of the changes proposed in this area. National Energy Consumer Framework The Eastern States (except Victoria) are governed by the National Energy Retail Rules (‘Retail Rules’) and National Energy Retail Law…
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From fintech to regtech: a new area for innovation focus

From fintech to regtech: a new area for innovation focus

Uncategorized
By Dr Drew Donnelly, Compliance Quarter. Today, continuing in our series of articles concerning developments in the fintech regulatory space (including blockchain), we discuss regulatory technology or ‘regtech’. Specifically, we look at a recent report from the Australian Securities & Investments Commission (ASIC) on its fostering of the sector. What is regtech? In many industries, both in Australia and internationally, regulatory compliance is becoming increasing complex – and costly. At the same time the risk of non-compliance for a business is growing, both through increased enforcement and the potential for reputational damage. By way of example, in Budget 2017 and financial services: an opening for the minnows and a warning for the sharks, we discussed the Government’s implementation of a new banking executive accountability regime, as well as increased funding…
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