GDPR: The Legitimate Interests test

GDPR: The Legitimate Interests test

Uncategorized
On 25 May the EU General Data Protection Regulation (GDPR) came into force. If you need help in working out whether or not your Australian business will be affected by GDPR, please get in touch with us without delay. We have offered updates recently on: - Cross-country data transfer (https://www.compliancequarter.com.au/gdpr_implications_for_australia/); - Consent (https://www.compliancequarter.com.au/gdpr-countdown-2-how-to-get-consumer-consent-and-when-is-it-required/). Photo by Yeo Khee on Unsplash By Dr Drew Donnelly, Regulatory Specialist, Compliance Quarter Today we update you on one of the more perplexing aspects of the GDPR; the ‘legitimate interests’ ground for processing personal data. On the one hand, the GDPR makes it easier for organisations to know when personal data processing is permitted (or ‘lawful’). The clear-cut definition of ‘consent’ means all organisations can be on the same page as to whether consent holds. On the other hand,…
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Are electricity prices in Australia being driven by an excessive tax allowance?

Are electricity prices in Australia being driven by an excessive tax allowance?

AU Energy Compliance
The Australian Energy Regulator (AER) recently announced a review on how much estimated tax it will allocate when making revenue decisions for network businesses.[1] This is, in part, a recognition that network costs have been the key driver of rising electricity prices over the last decade or so.[2] As part of that review, AER has released an issues paper for consultation. We summarise this below. By Dr Drew Donnelly, Regulatory Specialist, Compliance Quarter Estimate of tax payments When setting revenue allowances for network businesses (i.e. deciding how much revenue monopoly distributors are allowed to make), the AER estimates expected tax payments for electricity and gas distributors. By reviewing the current approach to estimating tax, the end result may change the total revenue allowance for network businesses, and thereby contribute to…
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Understanding your breach reporting obligations as an AFS Licence Holder

Understanding your breach reporting obligations as an AFS Licence Holder

Financial Services
Last month’s wealth management hearings before the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Banking Royal Commission) highlighted the need for AFS licensees to understand and fully comply with their breach reporting obligations in a timely and not overly legalistic way. You can read more about our coverage of the issues coming out of the Banking Royal Commission here https://www.compliancequarter.com.au/tech-lies-and-litigation-asic-reads-the-riot-act-to-the-financial-services-industry/ In our article covering AFSL breach reporting obligations we take a closer look at those obligations and the consequences of non-compliance. What must an AFS licensee report? AFS licensees must notify ASIC in writing of any ‘significant’ breach (or likely breach) of their obligations under s912A (including licence conditions), s912B (compensation arrangements) or financial services laws, as soon as possible, and in any event within…
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Tech, Lies and Litigation – ASIC Reads the Riot Act to the Financial Services Industry

Tech, Lies and Litigation – ASIC Reads the Riot Act to the Financial Services Industry

Financial Services
The Australian Securities and Investments Commission (ASIC) has taken more than a few big hits over the last month, as revelations of systemic risk and misconduct within the wealth management industry were aired publicly via the Royal Commission into Misconduct in the Banking, Financial Services and Superannuation Industry. It was time for a right of reply; and this week the Chair of ASIC, Mr James Shipton deployed just that in his keynote address at the Australian Council of Superannuation Investors Annual Conference. Mr Shipton made his position very plain – the actions of the wealth management industry had not only jeopardised our entire financial regulatory system but worse, had created a ‘trust deficit’ amongst the public. It was unequivocally a “moment”. Photo by Carlos Muza on Unsplash By Sarah Le Breton, Compliance Quarter…
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When is an electricity discount not a discount?

When is an electricity discount not a discount?

AU Energy Compliance
The key driver of rising electricity bills in Australia has been network costs.[1] Accordingly, a range of measures have been introduced in an attempt to keep network costs down (for example, the review of the allowable rate of return.[2]  However, another driver of electricity price rise has been increases in retailer margins.[3] One thing that may be leading customers to pay more than they ought to to retailers is a general lack of pricing transparency. The lack of rules around how discounts are offered means that, often, a customer may receive a ‘discounted’ price that is lower than the ‘full’ price for an equivalent offer with another retailer.  In order to rectify this, the Australian Energy Market Commission (AEMC), on the request of the Commonwealth Government, has introduced a rule…
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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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