The Importance of Culture, Not Spend in Compliance

The Importance of Culture, Not Spend in Compliance

Consumer, Financial Services
‘Actions speak louder than words’ - it’s an idiom that’s as old as time itself yet has never been as relevant to the world of compliance management as it stands today. This is a look at the importance of culture, not spend in compliance. By Sarah Le Breton, Compliance Quarter. As a former regulator and law enforcer, I have had firsthand experience in working with regulated entities when it comes to their compliance frameworks, particularly when there are a short-comings that need to be examined and addressed. In most instances when you issue notices to produce, you will invariably find an impressive set of formal documents that set out the way that the company is managing its compliance with the relevant statutory obligations – some clearly have better advisors than…
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The advantages of automating compliance workflows

The advantages of automating compliance workflows

Consumer
It’s no secret that automation is changing the way that business is practised – you just have to look at platforms like MailChimp and SalesForce to see the impact that automation has had on the world of customer relationship management. The benefits that automation can bring to a business are becoming increasingly clear across a number of areas of business management – knowing what tasks your staff are most commonly performing, along with the steps within those tasks and then being able to identify if there is scope for automation is the new norm. By Sarah Le Breton, Compliance Quarter. Why then should the world of compliance be any different? As we have previously discussed, the way that your compliance controls are applied by your staff in their day to…
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Electricity charges in lease agreements: competing interpretations

Electricity charges in lease agreements: competing interpretations

Consumer, NZ Energy Compliance
A recent judgment handed down by the High Court of New Zealand highlights the need for exercising extreme care when drafting and reviewing lease agreements. Volumex Nominees Limited V The Attorney-General [2018] NZHC 647 concerned an agreement between landlord and tenant in a seven-story building in New Plymouth. The dispute was about the amount of electricity charges to be paid by the tenant. We take a look at electricity charges in lease agreements. Photo by chuttersnap on Unsplash By Alex Silcock, Compliance Quarter Electricity charges in lease agreements - Background: The case was brought before the court in an application for summary dismissal. Associate Judge Johnston, at the beginning of his reasons, noted that ‘at the heart of this case is a humble comma’. The particular clause that provided for the payment of…
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Victoria, other Eastern States and New Zealand: What are the different processes for becoming an Electricity Retailer?

Victoria, other Eastern States and New Zealand: What are the different processes for becoming an Electricity Retailer?

AU Energy Compliance, NZ Energy Compliance
Here at Compliance Quarter, a key focus of ours is supporting Australian energy retailers with licensing, authorisation and general compliance processes.[1] However, we also offer compliance support for energy retailers in other countries and jurisdictions such as California[2] and New Zealand.[3]  For any Australian retailers who are considering expanding into another state or into New Zealand, it is essential to understand the similarities and differences in retail regulation across jurisdictions. In today’s article, we look at the different retail regulatory regimes and application processes across Victoria, the other southern and eastern states and New Zealand. By Dr Drew Donnnelly, Compliance Quarter  Electricity Retailers in the Eastern and Southern States (sans Victoria) A unified electricity retail authorisation process applies across New South Wales (NSW), South Australia (SA), Queensland, Tasmania and the…
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