3rd Annual Credit Law Conference
The hottest issues in credit law? We have 12 of the most important topics you need to know right now. The best speakers? Hear from AFCA, the Ombudsman, ASIC, the OAIC, leaders in banking and finance, and elite practitioners in the sector. Convenience and efficiency? Experience this comprehensive conference all in one day right in the Sydney CBD or streamed live online directly to you. No sponsored speaking slots. No costly and time consuming travel. No fluff. Just the best content and the best speakers.
Description
Attend and earn 7 CPD units in Substantive Law
This conference was recorded in NSW on 22 November 2018
Session 1
Regulatory Developments
Chair: Andrea Beatty, Partner, Piper Alderman; Best Lawyers 2019, Financial Institutions and Regulatory Practice
9.00am to 9.30am: The Australian Financial Complaints Authority
Presented by The Hon Helen Coonan, Chair, Australian Financial Complaints Authority (AFCA)
9.30am to 10.00am: Insights from the Ombudsman
- Key changes under the AFCA Rules
- Small business disputes
- Financial firms and AFCA working together to resolve disputes
Presented by Geoffrey Bant, Ombudsman – Banking and Finance, Australian Financial Complaints Authority
10.00am to 10.30am: ASIC Update: Objectives, Priorities and Reviews
- Overview of ASIC’s strategic objectives and priorities for consumer credit in 2018-19
- Discussion of thematic reviews of credit lending practices including: credit cards, motor vehicle finance and reverse mortgages
Presented by Kevin Foo, Senior Manager, Deposit Takers, Credit & Insurers, ASIC
10.30am to 11.00am: Banking and Finance Trends: Consumer Advocacy
Presented by Helen Gordon, CEO, Australian Finance Industry Association and Dr Brendan French, Customer Advocate and EGM Group Customer Advocacy, Commonwealth Bank
11.00am to 11.15am Morning Tea
11.15am to 11.45am: Update from the Office of the Australian Information Commissioner: Where are we and what are the Next Steps?
- Consumer Credit Reporting
- Notifiable Data Breaches Scheme
- The Consumer Data Right
Presented by Andrew Solomon, Acting Deputy Commissioner, Office of the Australian Information Commissioner
11.45am to 12.30pm: The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
- What’s happened so far that’s relevant to credit, and what else might be expected?
- What are the main lessons to be learned so far?
- What might the impact on lending be?
Presented by Presented by Shannon Adams, Partner, Piper Alderman; Recommended Banking & Finance Lawyer, Doyle’s Guide 2017; Best Lawyers 2019, Corporate/Governance Practice
12.30pm to 1.15pm: Advertising and Marketing in Credit Law: New Regulatory Risks
- The main rules and the main risks
- Recent significant Court and ASIC actions of relevance
Presented by Narelle Smythe, Partner, Clayton Utz; Best Lawyers 2019, Regulatory Practice
1.15pm to 2.00pm Lunch
Session 2
Timely Issues and the Road Ahead
2.00pm to 2.40pm: Lending in the Digital Age: Reducing Risk and Avoiding the Pitfalls
- Digital mortgages and the legal issues related to providing credit online
- E-signatures and contract formation
- Electronic notices
Presented by David Jacobson, Principal, Bright Corporate Law
2.40pm to 3.10pm: Comprehensive Credit Reporting: The Practical Impact
- Update and where things currently stand
- The practical implications of positive data sharing and use and how it will impact your practice or your organisation
- Early lessons and examples and their real-world application
Presented by Olga Ganopolsky, General Counsel - Privacy and Data, Macquarie Group Limited
3.10pm to 3.25pm Afternoon Tea
3.25pm to 4.05pm: Targeted and Principles-Based Product Design and Distribution Obligations
- The ramifications for the credit industry and consumers
- ASIC product intervention powers
- Interaction between responsible lending and design and distribution obligations
- Impact on other financial products relevant to credit providers
- What you need to know and what you need to update or change
Presented by Ian Lockhart, Partner; Best Lawyers 2019, Banking and Finance Law and Prayas Pradhan, Senior Associate, MinterEllison
4.05pm to 4.45pm: Consumer Credit Trends and New Legislation
- Trends in consumer credit
- Remuneration
- Utilising credit scores to calculate interest rates for customers
- A different way of doing business?
- What the public’s significant distrust of financial services companies reflected in the 2018 Edelman Trust Barometer means in practice
- Financial services companies, social conscience obligations, and the ‘mother test’
- ASIC Prohibition Flex Commissions
- Interest Rates to be set by Auto Finance Companies/Risk Based Pricing (RBP)
- Impacts for dealers, companies and customers
Presented by Daniel Tirado, Senior Corporate Counsel, Toyota Finance Australia Ltd; Sessional Academic Faculty of Law, UTS
4.45pm to 5.15pm: Credit Card Reforms
- Credit card reforms outline
- ASIC consultation findings and recommendations
- Credit cards vs shop now pay later
- Why closing down open-ended credit will reduce insolvencies
Presented by Andrea Beatty, Partner, Piper Alderman; Best Lawyers 2019, Financial Institutions and Regulatory Practice and Gregory Mowle, Lecturer, The University of Canberra