Tag Archives: Gadens Lawyers

ILN Today Post
August 26, 2015

Should we put our most critical data in the cloud?

By gadens

If you are a financial advisor, would you store your clients’ confidential financial and tax details in the cloud?  If you are a hospital, what about patients’ health information?  If you are a school, would you use cloud based software to create reports about individual students?

Australian organisations are using more, and more sophisticated, cloud services

More and more organisations are using cloud services.  The services themselves are becoming more complex, to include not just data storage services but higher-value offerings such as “platform as a service” and “software as a service”.  More…

Posted in Asia Pacific | Legal Updates
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ILN Today Post
August 18, 2015

Can non-banks use the word ‘bank’? APRA gives updated guidance on s 66

By gadens

APRA released an update of its guidance on the use of the term ‘bank’ on 14 August 2015.

Under sections 66 and 66A of the Banking Act a person carrying on a financial business cannot use the term ‘bank’ or any variation of ‘bank’ without the approval of APRA. This is designed to prevent customers being misled into assuming non-bank businesses are regulated by APRA.

Industry has long been confused about whether non-banks can refer to themselves as ‘non-bank lenders’, and use words such as ‘internet banking’. More…

Posted in Asia Pacific | Legal Updates
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August 12, 2015

IP licensing and structuring considerations for Australian registered trade mark owners

By Katrina Chambers of Gadens

iStock_000050094102_FullThe recent Federal Court of Australia decision in Skyy Spririts LLC v Lodestar Anstalt [2015] FCA 509 serves as a reminder that Australian registered trade marks are vulnerable to removal on the basis of non-use if licensing and structuring arrangements are not adequate.

Under the Australian Trade Marks Act 1995 (Cth) a trade mark may, upon application, be removed from the register if the registered owner has not used the trade mark in Australia for a continuous period of 3 years.

As part of a long running dispute between Wild Turkey Bourbon and Wild Geese Rare Irish Whisky about  their rights in Australia with respect to the trade marks “WILD TURKEY” and “WILD GEESE”, a non-use application was filed with IP Australia seeking removal of Wild Turkey Bourbon’s “WILD GEESE” trade mark registration.

Posted in Asia Pacific | ILN IP Insider | Legal Updates
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ILN Today Post
August 12, 2015

Papier mache caterpillar provides definitive guidance on what constitutes hazardous manual handling

By gadens

Breach of statutory duty, more so a breach of the Occupational Health & Safety Regulations, is an extremely common particular of negligence in personal injury proceedings.  The Court of Appeal’s direction in this proceeding goes a long way to remove uncertainty between what is manual handling and further, what is meant by hazardous manual handling.  In line with the majority, an element of force is required, or alternatively the load be unstable or unbalanced, difficult to grasp or hold.  What is clear is that a load may meet the definition of hazardous manual handling despite being particularly light – as in this case a papier mache caterpillar. More…

Posted in Asia Pacific | Legal Updates
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ILN Today Post
August 5, 2015

The rise and rise of trade facilitation

By gadens

In recent times, there has been extensive commentary on the benefits which would flow from enhancements in trade facilitation. Conversely, at the same time there has been similar commentary as to the need to enhance levels of compliance and supply chain security to ensure that trade is safe and reported correctly and that all necessary revenues are collected. More…

Posted in Asia Pacific | Legal Updates
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ILN Today Post
August 3, 2015

The rise and rise of trade facilitation

By gadens

Originally published in Lloyd’s List

In recent times, there has been extensive commentary on the benefits which would flow from enhancements in trade facilitation. Conversely, at the same time there has been similar commentary as to the need to enhance levels of compliance and supply chain security to ensure that trade is safe and reported correctly and that all necessary revenues are collected. More…

Posted in Asia Pacific | Legal Updates
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ILN Today Post
August 3, 2015

Changes to the way financial services disclosures need to be made

By gadens

Until now, the Corporations Act (the Act) has required financial services providers to send disclosure documents (such as financial services guides (FSGs) or product disclosure statements (PDSs)) in paper form unless they held express consent from the consumer for digital communications.

ASIC has recognised the need to remove regulatory barriers to providing financial services disclosures electronically.  Updated Regulatory Guide 221 Facilitating digital financial services disclosures acknowledges that this will be more convenient for consumers and is expected to result in significant cost savings for industry. More…

Posted in Asia Pacific | Legal Updates
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ILN Today Post
August 3, 2015

Confusion reigns after TPP fails to launch

By gadens

After a week of intensive speculation on the successful completion of negotiations regarding the Trans-Pacific Partnership Agreement (TTPA), news from Maui is that the parties could not, in fact, reach agreement on the TPPA.

Notwithstanding vocal opposition to some aspects of the TPPA, I remain of the view that it is an important and worthwhile agreement on its own account and sets an excellent foundation for further trade initiatives. More…

Posted in Asia Pacific | Legal Updates
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ILN Today Post
July 26, 2015

Country of origin labelling reform – Missing a key ingredient

By gadens

The Federal Government released details of its proposed country of origin labelling (CoOL) scheme in a joint statement (Joint Statement) of the Prime Minister, Minister for Industry and Science and the Minister for Agriculture on 21 July 2015.

This announcement, which was not expected until August, follows a public consultation on CoOL reform options which received over 17,800 submissions.

A key feature of the proposed CoOL scheme is the mandatory labels for food produced or packed in Australia which are intended to provide a quick reference tool for consumers to easily identify the origin of food products. Interestingly the mandatory labels approved by the Federal Government don’t actually require the origin of the food to be stated. More…

Posted in Asia Pacific | Legal Updates
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ILN Today Post
July 26, 2015

Fintech and alternative financial product series – Part 4: What do you need to know about applying for an Australian Financial Services Licence?

By gadens

Certain types of alternative finance or tech businesses will need to get an Australian Financial Services Licence (AFSL).  This is because your product or service could be classified as:

  • providing financial product advice to clients;
  • dealing in a financial product;
  • making a market for a financial product;
  • operating a registered scheme;
  • providing a custodial or depository service, or
  • providing traditional trustee company services.

More…

Posted in Asia Pacific | Legal Updates
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