Emmanuel Givanakis

We’re delighted to have contributed the New Zealand chapter to the Legal 500: TMT Comparative Guide. The sector is evolving fast, and our commentary explores the key issues shaping TMT (Technology, Media & Telecoms), including AI, cybersecurity, data protection, blockchain and more. Thanks to our team - Liz Blythe, Craig Shrive, Tom Hunt, Emma Peterson and Louise Taylor – for sharing their insights on the current landscape and what’s ahead for TMT in New Zealand. Read the guide here: https://lnkd.in/di8DUiZQ #TMT #Legal500 #TechnologyLaw #NZLaw #Media #AI #DataProtection #Cybersecurity #Blockchain

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AUSTRAC CEO v Mounties AUSTRAC's concise statement of claim has some novel features in the pleadings: 1. AUSTRAC outlines what it considers the reasonable ML/TF risk faced by Mounties; 2. AUSTRAC explains in some detail what it considers should be in an ML/TF risk assessment, including risk appetite and risk assessment methodology; 3. Contravention of training obligations; 4. Contravention of Independent Review obligations and the naming of the Independent Reviewer (ouch); 5. Outsourcing of the AML-CTF Program and the naming of the outsourced provider (ouch) 6. A transaction monitoring program and an enhanced customer due diligence program, which were "vague and lacked detail". 7. The alleged contraventions of Section 81 - AML-CTF Program is pleaded in the alternative - litigation speak for two bites at the cherry. Allegation A - AML-CTF Program did not meet Section 81 and rules obligation. Allegation B - if A is not correct, then Mounites had an AML-CTF Program which met the obligations, but they did not follow that AML-CTF Program under Section 82. This style of pleadings is new. I can see the reasoning. 8. AUSTRAC's solicitors are Johnson Winter Slattery in change from the Australian Government Solicitor. The pleadings are well worth a read. There will be more to read when the full pleadings are published. PS, any PI insurer looking for an expert witness, give me a call. 

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Members of Parliament (MPs) are reviewing a petition that seeks to limit loan interest so it never exceeds the original principal, citing the steady rise of unscrupulous lenders with unjustly high repayment charges. The petition, filed by senior lawyer Allen Waiaki Kishore, calls for amendments to the Consumer Protection Act to formally codify the in duplum rule, which already exists in Section 44A of the Banking Act but remains weakly enforced. The in duplum rule is a longstanding legal principle that states if unpaid interest equals the principal, no further interest may accrue until part of the principal is repaid. Historically applied to banks, recent court decisions in Kenya have extended the rule to all lenders, including microfinance institutions, SACCOs, digital lenders, and even private individuals. https://lnkd.in/dXnkZc4W

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📢 𝗔𝗖𝗖𝗖 𝗠𝗲𝗿𝗴𝗲𝗿 𝗥𝗲𝗳𝗼𝗿𝗺 𝗨𝗽𝗱𝗮𝘁𝗲 Last week, the ACCC released an 𝗘𝘅𝗽𝗼𝘀𝘂𝗿𝗲 𝗗𝗿𝗮𝗳𝘁 setting out proposed information requirements for its new 𝗻𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝘄𝗮𝗶𝘃𝗲𝗿 𝗽𝗿𝗼𝗰𝗲𝘀𝘀. Under the proposal, applicants will need to provide a similar level of information to what is required under the new the current short-form notification process, including 𝗺𝗮𝗿𝗸𝗲𝘁 𝘀𝗵𝗮𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹𝘀 and 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀. 📆 Consultation on the waiver form remains open until 𝟭𝟲 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟱. With applications for informal merger clearance and confidential pre-clearance under the existing voluntary regime only being accepted until the 𝗲𝗻𝗱 𝗼𝗳 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿, merger parties should ensure they are across the requirements of the new mandatory regime. 👉 Check out our updated briefing here:  For more detail, get in touch with Mark Grime, Elizabeth Richmond or Sam Frouhar.    #ACCC #MandA #MergerReforms #AusLaw #Transactions

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🌏🇦🇺⚠️ PE practical risks in Australia The ATO had recently commented in the media about the risk of foreign tech companies having permanent establishments here based on data centre or server arrangements. Beyond the technical issues about what creates a PE in Australia, there are some practical (impractical?) fallouts to keep in mind. ❌ Inability to use tax losses from other entities. Because the PE is outside any AU tax consolidated group, it can't use the group's losses, so can trigger cash tax liabilities even when the group generally has plenty of losses available. 📈 Potential for profit attribution even where the global group is in losses. TP operates based on the arm's length principle, looking at the AU PE, so a low-risk PE might receive a cost-plus return even where the global group is generating losses. ⏳ Inability to rely on statute of limitations. Multinationals generally have a 4 year period of review in AU, but this only starts when the relevant entity's tax return is lodged. For a PE which doesn't lodge an AU return, the clock never starts so all historical years can remain open to the ATO. #taxlaw #internationaltax #transferpricing #taxlitigation

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At the Association of Independent Insolvency Practitioners (AIIP) Annual Conference, our Chief Executive Tim Beresford outlined AFSA’s vision for a fair, trusted, and high-performing personal insolvency system — and launched our 2025–26 Regulatory Action Statement. His message: to maintain trust in Australia’s $3.6 trillion credit system, we must act with integrity, stay relevant, and reflect the communities we serve. Our focus this year:  • Manipulating personal insolvency proposals and creditor meetings to protect wealth • Cracking down on mismanaged trust accounts  • Addressing harmful and inappropriate advice  • Improving compliance with PPSR discharge obligations We also reinforced the value of positive culture in professional practice — because trust is built not by words, but by actions. Explore the 2025–26 Regulatory Action Statement and learn more about how we’re targeting harm and strengthening confidence in the system: https://lnkd.in/gRQ3JfRt #AFSA #Regulation #Insolvency #Trust #Leadership #Stewardship #Bankruptcy #PPSR #Governance #FinancialServices

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‘Our review found that many auditors failed to meet the basic independence requirements, and others failed to identify and critically evaluate potential threats to their independence,’ said ASIC Commissioner Kate O’Rourke. ASIC’s latest surveillance found auditors across firms failed to clearly demonstrate compliance with independence and conflict of interest rules. Tap the link in the comments to read the full media release in ASIC’s Newsroom

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