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	<title>Australian Regulatory Compliance Review from Langes+ Lawyers</title>
	<link>http://www.langes.com.au/australian_regulatory_compliance</link>
	<description>Information about Australian legal and regulatory changes and financial services industry regulation </description>
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		<title>Anti-Money Laundering and Counter-Terrorism Financing Rules Amendment Instrument 2012 (No. 1)</title>
		<description><![CDATA[The Anti-Money Laundering and Counter-Terrorism Financing Rules Amendment Instrument 2012 (No. 1) commenced on 1 February 2012. The amendments include: Amendments to Chapters 8 and 9 require reporting entities to expressly state in their AML/CTF Part A programs what obligations they have under the AML/CTF Act, and specify the appropriate systems and controls which they [...]]]></description>
		<link>http://www.langes.com.au/australian_regulatory_compliance/2012/02/02/anti-money-laundering-and-counter-terrorism-financing-rules-amendment-instrument-2012-no-1/</link>
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		<title>ASIC guide on agribusiness managed investment schemes</title>
		<description><![CDATA[ASIC has released Regulatory Guide 232 Agribusiness managed investment schemes: Improving disclosure for retail investors (RG 232) outlining five benchmarks and five disclosure principles that apply to all agribusiness schemes as well as an Investor Guide to improve investor awareness of the risks associated with these products. Agribusiness schemes must disclose whether they meet the [...]]]></description>
		<link>http://www.langes.com.au/australian_regulatory_compliance/2012/02/02/asic-guide-on-agribusiness-managed-investment-schemes/</link>
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		<title>Personal Liability for Corporate Fault Reform Bill 2012</title>
		<description><![CDATA[Treasury has released an exposure draft of the Personal Liability for Corporate Fault Reform Bill 2012, which constitutes the first tranche of proposed amendments to Commonwealth directors&#8217; liability legislation. The amendments are intended to harmonise nationally the imposition of personal criminal liability of company officers when their company breaches a statutory requirement. The Bill makes [...]]]></description>
		<link>http://www.langes.com.au/australian_regulatory_compliance/2012/01/30/personal-liability-for-corporate-fault-reform-bill-2012/</link>
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		<title>ASIC proposals on trustee company transfers</title>
		<description><![CDATA[ASIC has issued Consultation Paper 173 Trustee companies: Transfer determinations by ASIC (CP 173) which sets out proposals on what information it will require to properly consider a transfer determination. CP 173 deals with the three types of transfer determination applications under Part 5D.6 of the Corporations Act it anticipates receiving from trustee companies performing [...]]]></description>
		<link>http://www.langes.com.au/australian_regulatory_compliance/2012/01/30/asic-proposals-on-trustee-company-transfers/</link>
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		<title>Productivity Commission inquiry into default superannuation funds in modern awards</title>
		<description><![CDATA[The Australian Government has announced an inquiry into default superannuation funds in modern awards by the Productivity Commission. The Government indicated that the inquiry is expected to commence in early February 2012, after formal receipt by the Commission of the terms of reference. The purpose of the inquiry is to design transparent and objective criteria [...]]]></description>
		<link>http://www.langes.com.au/australian_regulatory_compliance/2012/01/30/productivity-commission-inquiry-into-default-superannuation-funds-in-modern-awards/</link>
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		<title>CAMAC report on regulation of derivatives</title>
		<description><![CDATA[CAMAC has published a report on Derivatives. The report responds to a request from the Government for advice on the suitability of the legislative definition of derivative for today’s derivatives markets and whether it may be possible to decrease complexity in this area of the law. CAMAC concluded that the current definition in section 761D [...]]]></description>
		<link>http://www.langes.com.au/australian_regulatory_compliance/2012/01/30/camac-report-on-regulation-of-derivatives/</link>
			</item>
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		<title>ACCC transitional policy on warranties</title>
		<description><![CDATA[We noted the new Australian Consumer Law consumer warranty provisions that started on 1 January 2012 here. The ACCC has now published its policy on transitional arrangements where due to the long lead times associated with many consumer products, and the nature of the packaging of those products, there will be some goods in the [...]]]></description>
		<link>http://www.langes.com.au/australian_regulatory_compliance/2012/01/23/accc-transitional-policy-on-warranties/</link>
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		<title>GST and financial supplies</title>
		<description><![CDATA[Treasury has released draft A New Tax System (Goods and Services Tax) Amendment Regulations 2012 implementing measures to amend the financial supply provisions of the GST law. These measures are: simplifying the treatment of hire purchase transactions by making them fully taxable; expanding the range of expenses qualifying for a reduced input tax credit to [...]]]></description>
		<link>http://www.langes.com.au/australian_regulatory_compliance/2012/01/23/gst-and-financial-supplies/</link>
			</item>
	<item>
		<title>Trustee companies regulations</title>
		<description><![CDATA[Treasury has released for public comment the draft Corporations Amendment Regulations 2012 and the Corporations Amendment Regulations 2010 (No. 3) Amendment Regulations 2012 and explanatory material in relation to trustee companies. The Regulations include provisions that: extend the current deemed licensing regime (for trustee companies seeking to be consolidated) until 31 December 2012. This is [...]]]></description>
		<link>http://www.langes.com.au/australian_regulatory_compliance/2012/01/23/trustee-companies-regulations/</link>
			</item>
	<item>
		<title>ATO ruling on taxation of dividends</title>
		<description><![CDATA[The ATO has published draft Ruling TR 2011/D8 about the taxation of dividends paid in compliance with section 254T of the Corporations Act 2001 and the circumstances in which a dividend will be paid out of profits. The dividends test in Section 254T was amended in 2010 to replace the profits-based test with a net [...]]]></description>
		<link>http://www.langes.com.au/australian_regulatory_compliance/2012/01/23/ato-ruling-on-taxation-of-dividends/</link>
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