Tag Archives: regulation & compliance

ILN Today Post

PPS ready or PPS worried?

The new Personal Property Security regime commences on 30 January 2012.

Some businesses are not ready, but Gadens has the solution.  read more…

Read full article
ILN Today Post

PPS start date announced

On 13 December 2011 it was announced that the PPS regime will commence on Monday, 30 January 2012.  read more…
Read full article
ILN Today Post

Electronic identity verification AML/CTF Act and Privacy Act amended

New laws commenced on 28 June 2011 permitting verification of an identity using information held by a credit reporting agency. AML/CTF reporting entities should amend their privacy consents if they want to use this method.  read more…

Read full article
ILN Today Post

NCCP ACT amendments – hardship, leases, reverse mortgages, and small amount lending

NCCP ACT amendments – hardship, leases, reverse mortgages, and small amount lending

By Jon Denovan of Gadens Lawyers, Sydney

Amendments to the National Consumer Credit Protection Act 2009 are likely arising from the Consumer Credit and Corporations Legislation Amendment (Enhancements) Bill 2011(Cth) presented to the Commonwealth Parliament on 21 September 2011.  The key changes are summarised below.  The changes are intended to commence on 1 July 2012.

read more…

 

Read full article
ILN Today Post

Regulation & Compliance Update

KFS Regulations made and PPS commencement delayed

By Jon Denovan of Gadens Lawyers, Sydney

The Regulations for Home Loan Key Fact Sheets (KFS) were made on 1 September 2011.  Home loan lenders will generally need to provide KFSs from 1 January 2012.  In other news, it appears likely that the Personal Property Security Regime is likely to be postponed until 1 March 2012.  read more…

 

Read full article
ILN Today Post

Regulation & Compliance Update

Proposed disclosure regulation amendments

By Jon Denovan of Gadens Lawyers, Sydney

The MFAA have discussed with Treasury the recently released regulations dealing with credit guides, quotes, and proposal disclosure documents.  As a result of these discussions, the MFAA are very confident that some amendments will be made prior to 1 October 2011 (the start date).  There are also some planned changes for Key Fact Sheets.

read more…

 

Read full article
ILN Today Post

Gadens Lawyers – Regulation & Compliance Update

Mortgagor identification commences in NSW

By Jon Denovan of Gadens Lawyers, Sydney

From 1 November 2011, there will be new requirements in NSW for mortgagees to identify mortgagors and new rules for witnessing most Torrens Title dealings.  These are two new separate and distinct requirements.  read more…

 

Read full article
ILN Today Post

Regulation & Compliance Update

Disclosure Regulations released

By Jon Denovan of Gadens Lawyers, Sydney

The Regulations specifying how lenders, finance brokers, and mortgage managers will make disclosure have now been released.  read more…

 

Read full article
ILN Today Post

Gadens Lawyers – Regulation & Compliance Update

Disclosure Commencement now 1 October 2011

By Jon Denovan of Gadens Lawyers, Sydney

The Commonwealth Treasury has announced that the disclosure regulations under the NCCP Act will now commence on 1 October 2011 instead of 1 August 2011.
read more…

 

Read full article
ILN Today Post

Regulation & Compliance Update

PPS Update

By Jon Denovan of Gadens Lawyers, Sydney

Commencement of the Personal Property Security Register has been postponed until late October.  Find and claim is now available.  read more…

 

Read full article