We said at the outset of this pandemic that financial advice will play an important role in supporting members who are considering whether to access their super early. Alive to that, ASIC recently released a series of measures to facilitate access to financial advice ...

Commissioner Hayne's comments in his final report, and the surge of community interest in super, have resulted in a renaissance of sorts for the 'best interests' obligation. ...

The decision in ACCC v Kimberly-Clark Australia identifies pleading and evidentiary issues in the ACCC's case, and provides useful guidance for companies about how courts will interpret product representations and what will be considered the relevant 'context' of representations made in marketing ...

The recent decision of the High Court of Australia in ASIC v King considers the meaning and scope of the term 'officer', as defined in s9 of the Corporations Act 2001 (Cth), and contains important if non-binding observations on how the term may catch bankers and other third parties. ...

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 ...

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). ...

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 ...

On 14 April, ASIC published a media release detailing changes to its regulatory framework and priorities in light of COVID-19. This follows an earlier statement by ASIC, which indicated that it would temporarily change its regulatory work and priorities to allow it and regulated entities to focus on the impact of COVID-19. ...

In its latest compliance update, ASX reiterated that entities in financial difficulty (including with respect to their debt arrangements) will receive no special treatment. On earnings guidance, it was acknowledged that many listed entities have taken the opportunity to withdraw guidance issued before the outbreak of COVID-19. ASX also strongly encouraged entities to review their published guidance in light of COVID-19 and to either update it if it was not current or withdraw it in this highly uncertain climate. ...

In contrast to a previous decision, the Federal Court has refused to order the disclosure of the respondent's insurance policies to the applicant in a class action. We explore this decision and also highlight the way in which the court's reasoning differed from a prior decision that found in favour of disclosure. ...