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Signature Innovation and Science Agenda Launched - Dec 2015

The Prime Minister (and a plethora of Ministers) announced the Government’s signature National Innovation and Science Agenda, earlier today. It reverses the earlier deep cuts in Government funding for research and development in the most recent Budget.

The measures announced are far reaching, but we await much of the detail.

The key areas provided for in the new policy are explained below by Partners, David Cornwell, James Lawrence, Tim O’Callaghan and Tim Clark from the firm’s national Corporate and Intellectual Property & Technology Practices.

Failure to Launch - Equity Crowd Funding in Australia - Dec 2015

Yesterday the Government’s long awaited, proposed regulatory framework for equity crowd source funding was introduced into Parliament. The framework has been widely criticised. The draft legislation does not provide a regulatory regime conducive to the development of equity crowd funding market in Australia. It is too unwieldy to open up a source of risk capital for start-up and early stage companies.

Partner, David Cornwell, Associate, Kimberley Levi and Law Clerk, James Lowrey provide a critical overview of proposed regulatory framework.  

Australia to follow USA moving forward with Equity Crowdfunding regulations - Nov 2015

While Australia is still in the process of finalising a regulatory framework for equity crowdfunding, the United States has moved forward. On 30 October 2015, the Securities and Exchange Commission (SEC) passed rules to implement Title III of the Jobs Act in the United States. Title III was passed by Congress within the JOBS Act in 2012 however it specifically required SEC rules to implement its operation.

Partner, David Cornwell provides a high level overview of the United States’ regulatory position to permitting retail investors to participate in equity crowdfunding.

Taxation Issues and Equity Crowdfunding in Australia - Oct 2015

The Government is soon to introduce a regulatory framework to facilitate equity crowdfunding. However, to date, there has been minimal focus on the taxation treatment of equity crowdfunding. It is hoped that the Government will prioritise the tax treatment of equity crowdfunding as part of the “national innovation agenda” however until the Government does so, it is important to be mindful of the Australian Taxation Office’s views on the application of the existing tax laws to equity crowdfunding. Partner, David Cornwell, Associate, Kimberley Levi and Law Clerk, Stephaine Skevington discuss the current taxation implications on equity crowdfunding in Australia.

Are you compliant with the Privacy amendments? The OAIC provides its assessment one year on - Jun 2015

Tim Clark, Partner, and Philip Chow, Lawyer, outline the current position of the Office of the Australian Information Commissioner a year on from Australia’s privacy reforms, and look ahead at what is next for privacy strategy and compliance for commercial organisations.

Drone/UAV Regulations and Operation - Update - Jun 2015

As both commercial and private use of unmanned aerial vehicles (UAVs), or ‘drones’ as they are more commonly referred to, become more prevalent, jurisdictions around the globe have either implemented or are beginning to refine tougher regulatory schemes in order to better manage their operation as well as the safety, privacy and other issues such use creates. Partner, James Lawrence, looks at the key issues and local regulations.

Are you compliant with the Privacy amendments? The OAIC provides its assessment one year on - Jun 2015

Tim Clark, Partner, and Philip Chow, Lawyer, outline the current position of the Office of the Australian Information Commissioner a year on from Australia’s privacy reforms, and look ahead at what is next for privacy strategy and compliance for commercial organisations.

The 2015 Budget and Crowd-Sourced Equity Funding - May 2015

On 12 May 2015 the Federal Government released its budget for the 2015-16 financial year and has included a number of key measures that will benefit small businesses, start-ups and the crowd sourced equity funding (CSEF) space. The Federal Government’s attention on the area is promising, given the imminent introduction of legislation governing CSEF. Partner, David Cornwell and Law Clerk, Stephaine Skevington set out a brief summary of the measures announced in the Budget.

The new data retention laws – what should you be aware of? - May 2015

The Telecommunications (Interception and Access) Amendment (Data Retention) Act 2015 (Cth) (otherwise known as the “new data retention laws”) has been passed into law in April 2015. Partner, Tim Clark and Lawyer, Philip Chow, provide a concise summary of the new laws and how they may affect your business.

Update on crowd sourced equity funding - Mar 2015

Following our Background on Crowd Sourced Equity Funding in October 2014, the Financial System Inquiry released their final report on 7 December 2014. The report recommended that the Government ‘graduate fundraising regulation to facilitate crowdfunding for both debt and equity and, over time, other forms of financing.’ Partner, David Cornwell provides an update.

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