Archive for David Jacobson

  • Websites take heat Websites take heat

    Regulators are keeping financial services websites under close scrutiny and making content disclosure requirements crystal clear BY DAVID JACOBSON Financial services websites are no longer optional marketing tools. Regulators now mandate that disclosure of certain issues must be made on a we...

  • Plan your compliance Plan your compliance

    Business continuity and price signalling are two issues at the top of compliance watch lists in 2011 BY DAVID JACOBSON GFC or not, the volume of new legislation, and its complexity, increases every year. As evidence, look at the calendar of compliance changes scheduled this year at the end...

  • Bereft thanks to EFT? Bereft thanks to EFT?

    Has a glitch in an electronic payment left you deprived of funds? The EFT Code is now under review for the first time in 10 years... BY DAVID JACOBSON What are your rights when your online funds transfer is credited to the wrong financial institution, for example an account with a different ...

  • Merger manoeuvres Merger manoeuvres

    When assessing a potential acquisition or merger, the ACCC must be satisfied markets will remain competitive before giving clearance BY DAVID JACOBSON In 2008, when the Australian Competition and Consumer Commission (ACCC) did not oppose the Commonwealth Bank's merger with BankWest and Westp...

  • ASIC's activity report ASIC’s activity report

    The powers of the nation's most extensive financial regulator have just expanded, as has its clout... BY DAVID JACOBSON Did you know that ASIC monitors online, print, TV and radio ads as well as seminars promoting financial products? The information ASIC gathers is included in its researc...

  • The letter of the law The letter of the law

    While it's true a press release does not pass as a law, there are a few items under review by Parliament that could dispatch great change BY DAVID JACOBSON I've commented previously that media releases are not law. A law isn't a law until it is passed by Parliament and, for Commonwealth la...

  • Identity infringements Identity infringements

    Data breaches can be costly, inconvenient and critical, not least for the victims of a data breach. However, simple procedures can offer protection BY DAVID JACOBSON Last year's Heartland Payment Systems' spectacular data breach stemmed from errors that allowed hackers to break into the payme...

  • AUSTRAC's on track AUSTRAC’s on track

    The range and scope of AUSTRAC's supervisory role is now in full force, with a few big names already in its sights BY DAVID JACOBSON John Schmidt was appointed CEO of Australian Transaction Reports and Analysis Centre (AUSTRAC) in September 2009 and he has wasted no time in actively enforcin...

  • Eyeballing credit

    Privacy and credit reporting changes will mean the authorities can soon hold a magnifying glass to your credit activities BY DAVID JACOBSON The Government has confirmed that it will accept the Australian Law Reform Commission's (ALRC) recommendation to amend the Privacy Act to allow credit re...