Since 2020, the Australian Competition and Consumer Commission has introduced amendments to the Competition and Consumer Act 2010 which enable consumer data information to be shared, in order to facilitate the process known as open banking.

At present, Consumer Data Right legislation solely relates to information held by banks and energy companies.  It is anticipated that there will be a further and more significant roll out of legislation impacting the wider financial sector, as well as other sectors within the economy, in the next several years.

Holman Webb Lawyers is currently assisting broker groups, aggregators and software providers in relation to banking Consumer Data Right requests, and is similarly advising accredited data recipients with respect to their entrance into the financial services area, to enable applications for consumer credit.

The process surrounding the release of Consumer Data Right information is developing rapidly, as new technology emerges. There are privacy concerns relating to the management of this information, with detailed legislation and systems having been introduced to enable this information management to occur.

This article provides a brief analysis of the legislative process.  Readers should note that there will undoubtedly be further change, as the Consumer Data Right process gains traction.

The Federal Court has recently delivered several decisions which must give corporations engaged in retail and financial services some pause for thought - especially in relation to their preparation of standard contract terms and conditions.

This article discusses two recent matters:

• Australian Competition and Consumer Commission v Fuji Film & Business Innovation Australia Pty Ltd (2022) FCA928; and
• Australian Competition and Consumer Commission v Retail Food Group Ltd (2022) FCA 961

The first decision analyses the far-reaching powers within the Australian Consumer Law to prohibit and strike down unfair contracts.  The second decision relates to the banning of unconscionable conduct in respect of franchise operations.

Last year Holman Webb Lawyers Brisbane successfully obtained orders against a company director and a company officer for contempt of court. The contempt orders were necessary to enforce injunctive orders previously obtained by HWLB on behalf of Beech Ovens Pty Ltd. These proceedings are an exemplar of the personal liability which directors and company officers have for the actions of their company in complying with Court orders.