It’s time to look at what we need to do to prepare for 2018: here’s my regulatory timeline.
Click on the image to enlarge it.
Items with an asterisk indicate that they are subject to the passing of legislation.
Due to the debate on the Marriage Amendment Bill and constitutional politician citizenship matters it is expected that other legislation will not be further considered until next year.
But there is a possibility that a Bill for a Commission of Inquiry into banking and financial services will be introduced before Parliament rises for the year.
UPDATE: Royal Commission announced on 30 November 2017Â
Here are links to the articles on each of the issues.
1 January 2018
Life insurance commission changes start
22 February 2018
Data Breach Notification Scheme commences
1 April 2018
1 July 2018
Banking Reforms including BEAR start*
Insolvency law reform: ipso facto contract clauses
Australian Financial Complaints Authority*
Comprehensive credit reporting*
Prohibition on unsolicited credit card limit offers*
Online gambling lines of credit changes
1 November 2018
1 January 2019
Banking and Financial Services Royal Commission reports
Credit card regulation changes*
Small amount credit contract changes*
Things to watch for
Fintech sandbox regulation extensionÂ
Superannuation fund governance*
Increased ASIC and APRA enforcement powers and penalties
Small business lending protections
Reverse mortgages
