Trolls and social media platforms face huge fines in Australia for failing to remove abuse material.
Proposed legislation would also give government power to unmask identities of anonymous accounts.
Australian internet service providers, social media companies and other online platforms will need to remove severely harmful, abusive or bullying content within 24 hours or risk being blocked and fined $555,000 under the federal government’s proposed online safety legislation. Read More.
Commercial litigators and insurance specialists in high demand for 2021
COVID-19 is expected to continue to play a role in determining the legal skills Australia needs in the new year.
Commercial litigators and insurance specialists are among the most in-demand legal practitioners heading into 2021, global recruiter Hays has found.
“Litigation was a highly buoyant area pre-COVID-19, and is expected to grow rapidly in 2021 as individuals and business owners fall into contractual or company disputes due to pandemic-induced financial pressure,” Hays said in a report. Read More.
6 things to watch for as Australia crawls out of recession
Here are six things to expect as the economy recovers:
- Consumer spending will recover first, but might need help
- Overseas demand won’t assist in the recovery
- We will lose four years population growth
- Business investment will be weaker, and different
- We’ll need to get more people into paid work
- One last dark cloud: the terms of trade
Digital resilience key on regulatory agenda in 2021
Digital resilience will be firmly on the regulatory agenda for 2021 along with a focus on post-pandemic recovery, according to a new report. According to the new report FSR Outlook 2021 from Herbert Smith Freehills’ global financial services regulatory (FSR) team, there will be an increased focus on digital operational resilience from regulators in response to the pandemic, as well as a heightened emphasis on how financial systems can best help support the global economic recovery.
Drawing on its global expertise from across its network, the firm examined some of the most pressing areas of focus for the financial services industry in 2021. Read More.