The Fair Trading Amendment Act 2021 ("Amendment Act") has made recent amendments of the Fair Trading Act 1986 with some terms being extended to small business contracts that will come into force on 16 August 2022.

The Fair Trading Amendment Act 2021 - The Fair Trading Amendment Act 2021 ("Amendment Act") was enacted on 16 August 2021. It introduces changes to the Fair Trading Act 1986 ("Act"), some of which have come into effect and others which will come into effect on 16 August 2022.

Intellectual Property is an asset that has the potential to be more valuable to your business than tangible business assets and should be protected as much as possible. A famous trade mark or a market leading patent may be of far greater value to a company than its physical assets.

The Privacy Act 2020 ("new Act") came into force in 2020, replacing the Privacy Act 1993. The purpose of the new Act was to overhaul New Zealand's existing privacy of personal information regulatory framework and bring it into line with internationally recognised privacy obligations and standards. Section 22 of the new Act sets out 13 information privacy principles ("Privacy Principles"). In this article, we focus on new developments in relation to Privacy Principle 1 ("PP1"), which addresses the purpose of collection of personal information.

Technological innovation in the financial services sphere has enabled financial institutions to adopt and use Financial Technology ("FinTech") to improve or allow for more effective or efficient provision of financial services. FinTech often involves innovation - new business models, applications, processes, and products or new ways of delivering those products. It includes computer programs, apps and other technology used to support or enable banking and financial services. FinTech businesses cater for a wide range of consumer needs; including online banking, obtaining financial advice, personalised investment portfolios, cash transfers, and share trading platforms. Successful FinTech businesses such as PayPal and AfterPay have become household names.