TMeffect

TMeffect is located in Ultimo, Australia on 11/330-370 Wattle St. TMeffect is rated 3 out of 5 in the category business broker in Australia. TMeffect is establishing a business as equity investment service for angel investors searching for early stage scale-up and startup business with high potential. The company intends to operate a crowd sourced equity funding gateway to provide interested investors access to high risk early stage innovation companies through the recently enacted crowdfunding laws. After a series of rejections from ASIC and APRA dating back to February 2016, the company won the right to register its name in the Administrative Appeals Tribunal on the 22 June 2017 (without legal representation). A month later, TMeffect was named as the defendant in a Federal court matter regarding an appeal on the basis that the name 'bankrolla (aka bankroller)'​ was prohibited​. Further details are on record here; http://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/AATA/2017/921.html?context=1;query=tmeffect The matter has been scheduled in the federal court for December 2017 Press: https://www.bankingday.com/nl06_news_selected.php?selkey=22606 https://www.brightlaw.com.au/case-note-use-of-word-bank-in-compound-words/ http://www.afr.com/news/fintech-firm-beats-apra-over-its-bank-name-20170703-gx3cx6 The Federal court found the AAT in judgment in error in law on all 3 grounds of appeal and awarded costs against the company, remitting the matter to the AAT 'to be differently constituted for reconsideration according to law'​. Some of that detail is attached here; https://www.comcourts.gov.au/file/Federal/P/NSD1206/2017/actions The essence of which requires the AAT to consider the matter a new; - considering the inherent riskiness of Equity Crowdfunding as a mandatory consideration - considering APRA's guide to s66 - considering the Federal courts construction of s66 In parallel, federal parliament amended s66 to remove the mechanism provided by subsection 66(2C) of the Banking Act, which makes decisions taken under section 66 reviewable under Part VI of the Banking Act. More info at: http://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r5990_ems_dd1cdd7a-a52c-4974-a8e4-be97a298df5d/upload_pdf/649662.pdf;fileType=application%2Fpdf The company eagerly awaits its return to the AAT, which seems it will be the last of its kind (for non-ADI financial service providers).