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Articles by Steven Klimt
Webinar: Coming up Trumps in the 2024 US Presidential Election
Click here to watch the video The 2024 Presidential Election is shaping up as being one of the most unusual and significant of all time. Has a fresh candidate in the shape of Kamala Harris changed the race, and how Trump campaigns? What does the average voter think of it all – and whose vote matters?
Scam Prevention Framework consultation under way
Banks, telecommunications providers and social media companies will face new obligations to take positive steps to protect their customers from scams under new legislation that's just been released – with tough financial consequences, including responsibility for consumer losses and criminal and civil penalties, if they fail to do so. The draft legislation released by Treasury for consultation introduces a Scams Prevention Framework (SPF).
Buy Now Pay Later Bill confirms key tasks for the sector to work on before it becomes law
With the introduction of the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024 into Parliament, the Buy Now Pay Later (BNPL) industry now has enough detail to assess the impact of the expected changes on their existing customers, terms and compliance measures.
Buy Now, Pay Later to be regulated in Australia - plan now for the upcoming changes
23 May 2023 Time to read: 1 MIN BNPL providers should start identifying key areas of potential impact for their business, particularly with respect to responsible lending practices. Australia's Buy Now, Pay Later (BNPL) industry will soon be regulated under the National Consumer Credit Protection Act 2009 (Cth) (Credit Act). Industry should begin preparing for the changes but will have a further opportunity to comment on the final form of the legislation.
Buy Now, Pay Later to be regulated in Australia - plan now for the upcoming changes
BNPL providers should start identifying key areas of potential impact for their business, particularly with respect to responsible lending practices. Australia's Buy Now, Pay Later (BNPL) industry will soon be regulated under the National Consumer Credit Protection Act 2009 (Cth) (Credit Act). Industry should begin preparing for the changes but will have a further opportunity to comment on the final form of the legislation.
Generative AI Miniseries - Opportunities and risks for Australian organisations
Click here to watch the video Ep3: Data Protection in the New Frontier of Generative AI: Insights from Legal Experts. In this third episode of our Generative AI Miniseries, host Will Howe (Director of Data Analytics, Clayton Utz) speaks with Steven Klimt (Partner, Banking & Financial Services, Clayton Utz) and Lyndal Sivell (Special Counsel, IP & Technology, Clayton Utz) to discuss data privacy concerns in the new frontier of generative AI.
Australian Government releases final report of the Levy Quality of Advice Review
Further consultation is promised, but it’s unclear if bold reforms to financial advice will follow. The final report by Michelle Levy in the Quality of Advice Review was released publicly by Assistant Treasurer and Minister for Financial Services, Stephen Jones on 8 February 2023 and recommends a comprehensive roadmap to delivering good advice to more consumers. The report introduces 22 recommendations and is now awaiting the Government’s response.
New Responsible Lending Reforms - what you need to know | Lexology
Australia
September 25 2020 The Federal Government's responsible lending reforms, announced today and to apply from 1 April 2021, will be a major shake-up of Australia's credit landscape. There will be a consultation period on these proposed changes to the National Consumer Credit Protection Regulations, and we urge all lenders to engage in this process.
Whether electronic or wet ink signature - make sure to mitigate the risk of fraud in the execution of your contract | Lexology
Two-factor authentication is a helpful starting point for combatting e-signature fraud, but organisations cannot stop there. With the explosion in e-signing over the last four months, organisations have been grappling with the practical issues in shifting to electronic execution of documents – and the potential for fraud.
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