Greenwashing – ASIC’s first formal action resulting in $53K penalty against energy company

Consumers are becoming more interested and insistent on investments which have elements of sustainability. Entities must be aware of their obligations when offering financial products or making sustainability statements in relation to their investments, specifically not to make false statements or mislead their consumers. “Greenwashing” is the practice of misrepresenting the extent to which a [...]

2022-11-20T23:43:42+00:00November 20th, 2022|Business Advice|Comments Off on Greenwashing – ASIC’s first formal action resulting in $53K penalty against energy company

ASIC Cyber Security Proceedings Initiated

ASIC has commenced proceedings against RI Advice Group Pty Ltd in the Federal Court of Australia for alleged failure to have adequate cyber security systems in place.  This marks the first time that ASIC have instituted proceedings of this kind recognising the importance of cyber security as well as the continued spotlight on financial services [...]

2021-11-03T23:58:46+00:00February 1st, 2021|Business Advice, Compliance, Corporate Advisory, Data Protection|Comments Off on ASIC Cyber Security Proceedings Initiated

Beware the new laws tackling Phoenix activity

Illegal Phoenix activity is when a new company is created to continue the business of an existing company that has deliberately liquidated to avoid paying outstanding debts, including creditors, taxes and employee entitlements. Throughout February to April 2020, the Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2019 was passed by Federal Parliament and the relevant [...]

2020-09-10T03:37:48+00:00September 10th, 2020|Business Advice, Corporate Advisory|Comments Off on Beware the new laws tackling Phoenix activity

Government Investigation into Superannuation Guarantee Compliance

In efforts to tackle employer non-payment of the superannuation guarantee (SG), a new government working group has been established including representatives from the Australian Tax Office, Treasury, the Department of Employment,, the Department of Employment, ASIC and the Australian Prudential Regulation Authority.  This working group is expected to release a final report in March which [...]

2017-06-27T04:17:41+00:00March 6th, 2017|Compliance, Corporate Advisory, Employment Law, Legal Diagnostic, Tax|Comments Off on Government Investigation into Superannuation Guarantee Compliance
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