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In Anti-Corruption

Australia: What you need to know about Political Donations Laws ahead of the 2022 Federal Election

by and 4 Mins Read

The federal election is slated for 21 May 2022 and it is important to be aware of your obligations when it comes to political donations to ensure you are compliant with any disclosure requirements under the Commonwealth Electoral Act 19189 (Cth) (“Electoral Act”).
Not only do offences under the Electoral Act carry fines but non-compliance with political donations laws can lead to significant reputational risk in an area that frequently makes headlines.
This federal election is also the first since reforms in December 2021 tightened the laws relating to political donations in relation to foreign donors.

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In AML & Financial Services Regulatory

Australia: APRA’s new regulatory expectations for crypto assets strengthen regional alignment

by , and 5 Mins Read

The Australian Prudential Regulation Authority (APRA) has set out its initial risk management expectations for regulated entities that engage in activities associated with crypto-assets, and a policy roadmap for the period ahead in a letter to industry. We explore the APRA proposals in more detail below.

In Asia-Pacific

Australia: Clarification on quality standards, use of synthetics, and labelling and packaging requirements for medicinal cannabis products

by and 4 Mins Read

The Australian Government recently introduced new manufacturing, labelling and packaging requirements for medicinal cannabis products manufactured or supplied in Australia, under amendments to the Therapeutic Goods (Standard for Medicinal Cannabis) (TGO 93) Amendment Order 2022 (Amendment Order), effective as of 28 March 2022.

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In Asia-Pacific

Australia to increase tariffs for products from Belarus and Russia; and introduces new luxury goods export sanctions for Russia

by , and 1 Min Read

Baker McKenzie’s Sanctions Blog published the alert titled Australia to increase tariffs for products from Belarus and Russia; and introduces new luxury goods export sanctions for Russia on 05 April 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

In AML & Financial Services Regulatory

Australia: ASIC Publishes a Response to ePayments Code

by , , and 3 Mins Read

In March 2022, Australian Securities & Investments Commission published a response to submissions received to its consultation on review of the ePayments Code. In its response, ASIC proposed various revisions to the current voluntary code, including that scam payments will no longer be regarded as “mistaken internet payments” and reporting requirements for unauthorized transactions will change.

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In Asia-Pacific

Australia: Public Franchise Register adds to franchise compliance burden

by and 4 Mins Read

Changes to the Franchising Code commencing 1 April 2022 will introduce an online public Register of franchises in Australia from later this year. Anticipated for some time, the Register and will add to the annual compliance requirements for most franchisors. However, the information required to be filed is significantly reduced from that suggested in the Government’s 2021 Exposure Draft legislation.

In Anti-Corruption

Australia: Australian Government makes first designated party listings under Magnitsky-style thematic sanctions regime

by , and 1 Min Read

Baker McKenzie’s Sanctions Blog published the alert titled Australian Government makes first designated party listings under Magnitsky-style thematic sanctions regime on 30 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

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