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Regulation
AML/CTF and the shape of what’s to come for practitioners
Conveyancers, lawyers and real estate agents have been given their first look at AML/CTF reform requirements and a guidelines document just released.
Compliance
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Regulation
Financial crime expert flags cash transactions as ‘biggest risk’ under new AML-CTF laws
A leading financial crime risk and compliance expert says conveyancers need to keep a close eye on non-mortgage property transactions under new AML/CTF compliance laws.
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Technology
NSW inquiry to probe e-Conveyancing competition at public hearing
An NSW parliamentary inquiry will put competition in the e-conveyancing market under the spotlight at a public hearing next month.
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Regulation
Devil in the detail: strata by-laws risk in high-density housing
A property law expert has urged conveyancers to stay on top of complex strata by-laws as governments increasingly incentivise mixed-use, complex housing builds nationwide.
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Regulation
Conveyancers must lead real estate agents when it comes to ethics
As a new survey paints a picture of mistrust in the property industry, practitioners are reminded by consumer watchdogs of the need for accuracy and transparency when it comes to trust accounts.
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Regulation
Lawyers and conveyancers face constant battle to keep up with AI
Ongoing training in Artificial Intelligence for property professionals is a must as pace of technological change is fastest in generations, industry conference hears.
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Regulation
A ‘bank in crisis’: ANZ cops record fine for misconduct
From charging dead customers to overstating trades, a big four bank has been slugged with a record penalty for widespread misconduct.
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Regulation
Bushfire and flood risk advice to home buyers a must for lawyers
Mandatory climate reporting has been described by ASIC Chair Joe Longo as ‘the biggest change to corporate reporting in a generation’.
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Regulation
eConveyancing must be regulated by Fed and states, Senate inquiry told
Most witnesses stressed the need for greater power for ARNECC as well as support from Federal agencies.
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Regulation
Underquoting by real estate agents is priority for Fair Trading
Consumer protection regulator Natasha Mann highlights stance after revelations about investigation into suspended high-profile estate agent Josh Tesolin.
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Regulation
Reforms won’t break you — AUSTRAC chief tells Tranche 2 businesses
In an exclusive interview, AUSTRAC chief executive Brendan Thomas tells conveyancers why the new AML regime is so important and why its built to support, not sink, small operators.
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Regulation
Tranche 2 AML: red letter day may mean red ink for sector
The laws to combat money laundering through real estate are coming and professionals in the property sector need to get themselves ready to manage the change. It’s a necessary evil but it could also be costly.
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Regulation
Clock ticking for conveyancers to be ready for AML reform – AUSTRAC
Regulator does not expect perfection on day one and recognises businesses are up against sophisticated criminals – CEO Brendan Thomas.
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Regulation
Seller Beware – of biggest shake-up to property law in 50 years
Architect of Queensland’s new seller disclosure laws says the reforms could boost trade for conveyancers.
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Regulation
QLD property law overhaul an incredible step forward
Sweeping reforms fix a “frightening” lack of seller disclosure obligations under existing state laws, high-profile conveyancer Kiani Mills says.
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Technology
New NSW government inquiry into competition in eConveyancing
Six MPs on the Legislative Council aired their views about the ongoing issues impacting the sector.
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Regulation
Australia’s property market set for boost due to tax and legal changes
Expert analysis of the law and tax changes in play from today with those at the coal face giving us the reality behind stamp duty reform, new tenancy laws and the new super tax on balances over $3 million.
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Regulation
Couldn’t care less conveyancers face scrutiny on day-one of incoming AML reforms
We’re looking at people who are making no attempt to comply with the legislation, or people who are known to us already, AUSTRAC says.
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Regulation
Review of small-minded tax on foreign capital in QLD welcomed
Property Council welcomes review of taxes it claims have meant the sunshine state has missed out on 33,000 properties since 2016.
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Regulation
Conveyancers still have a week to have their say on latest AML updates
AUSTRAC’s proposed updates could cut duplication and costs by letting real estate agents rely on conveyancer due diligence.
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Regulation
Three-quarters of conveyancers worried by new AML compliance
Survey shows property professionals are still unsure about their responsibilities under looming law reforms.