The General Data Protection Regulation (GDPR) came into force on 25 May 2018. Even though this is a European Union regulation, it potentially has significant implications for New Zealand businesses. Technology has enabled New Zealand businesses to operate on a truly global scale and businesses collect, process and use data from all corners of the world.

Many modern businesses consist primarily of technology in the form of intellectual property. Although they may own physical assets and employ staff (though they are more likely to be engaged as contractors) the real value in the business sits almost wholly in the intellectual property developed.

The AML/CFT Act was extended to lawyers and conveyancers on 1 July 2018. It will be extended to accountants on 1 October 2018 and will be further extended to Real Estate Agents on 1 January 2019. We also consider many financial service providers (including in some cases of businesses offering credit contracts) may be unaware that they are required to comply with the AML/CFT Act or may not be meeting the standards required.

A recent Court of Appeal decision (Autumn Tree(1)) makes it clear that where a company enters a contract and only one director signs it:

The Personal Property Securities Amendment Regulations 2018 will come into force on 1 October 2018 and make a number of technical amendments to the Personal property Securities Regulations 2001.