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Fostering diversity with The Pinnacle Foundation
News 27 Feb 2020

Allens has entered into a multi-year partnership with The Pinnacle Foundation to foster diversity by offering a scholarship (commencing 2021) to young adults between the ages of 17-26 identifying as LGBTIQ to provide educational and mentoring support. ...

ASIC finalises new regulatory framework for foreign financial services providers
Insight 13 Mar 2020

The Australian Securities and Investments Commission has unveiled the much-anticipated new regulatory framework for foreign financial services providers that supply financial services to wholesale clients in Australia. foreign financial services providers ...

Amnesty for historical superannuation non-compliance
Insight 31 Mar 2020

The newly introduced superannuation guarantee (SG) amnesty scheme provides a one-off amnesty to encourage employers to self-correct historical SG non-compliance. This is done by allowing employers to claim tax deductions for contributions made during the amnesty period, as well as waiving certain penalties and fees that may otherwise apply in relation to historical SG non-compliance. ...

First prosecution for breach of new Heavy Vehicle National Law chain of responsibility duties
Insight 31 Mar 2020

The National Heavy Vehicle Regulator (NHVR) has commenced its first prosecution into duty holders under the new chain of responsibility (CoR) provisions of the Heavy Vehicle National Law (HVNL), which has been adopted in all states and territories (other than Western Australian and the Northern Territory). ...

FWC considers unfair dismissal procedural requirements
Insight 01 Apr 2020

The Full Bench of the Fair Work Commission (FWC) has ordered a case be reheard after it was found that adequate consideration was not given at first instance to whether a dismissed employee had been notified of, and given an opportunity to respond to, a valid reason for his dismissal. ...

Impact of COVID-19 on investment funds
Insight 31 Mar 2020

As the COVID-19 pandemic creates turbulence in global financial markets and propels investors into a race for liquidity, we are beginning to see investment funds grappling with some of the issues they had confronted in 2007–2009 during the global financial crisis (the GFC). ...

Impact of COVID-19 on superannuation
Insight 25 Mar 2020

Like all industries, the superannuation industry is facing some immense challenges in light of the rapidly developing COVID-19 pandemic. This Insight considers some of the more topical issues the industry is facing ...

In Touch: ACCC's 2020 enforcement priorities; Vodafone/TPG merger to proceed; and ACCC to investigate digital advertising
Insight 09 Mar 2020

The ACCC releases its enforcement priorities for 2020; the Federal Court clears a merger between Vodafone Hutchison Australia and TPG Telecom; ACCC starts an inquiry into the supply of digital advertising technology and agency services; ACCC consults on divestment undertaking in CUB / Asahi deal; Weldclass' RPM notification raises ACCC concerns; and two proposed mergers in the paper industries receive the regulator's blessing. ...

Two safe harbours for the storm of COVID-19
Insight 24 Mar 2020

The COVID Safe Harbour will provide useful immediate relief for companies and their directors, particularly those who need time to assess the company's position before developing a turnaround plan or pursuing an insolvency administration if that becomes necessary. ...

Enforceability of industry codes of conduct
Insight 16 Mar 2020

Proposed changes giving ASIC powers in relation to financial services industry codes of conduct means that obligations in these codes may become enforceable. This is interesting because the drafting in many of these codes tends to be broad, and, in some cases, goes far beyond the participants' exist ...

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