In the Final Report, the Commissioner has found that, for the most part, whilst the legislative tools necessary to protect borrowers are already available, there have been significant shortcomings in ...

The recent Great Southern class action settlement included a term by which group members acknowledged and admitted that loans taken out with independent financiers to finance investments in Great Southern managed investment schemes were valid and enforceable Two separate Victorian Supreme Court ...

Key cyber risks faced by ASICs regulated population as well as the legal and compliance obligations to manage those risks are highlighted in a new ASIC report ASIC also identifies steps entities can take to address the risks The report marks a growing focus on cyber security issues by ASIC which is ...

The Federal Government has announced that it will press ahead with changes to the future of financial advice provisions, initially by regulation and then by legislation ...

Perhaps the most important unanswered question in Australian class action law is how causation may be established in the context of a shareholder class action In the United States this issue has been addressed by the fraud on the market theory This week the US Supreme Court rejected a challenge to ...

The Governments much anticipated FOFA regulations were registered today and provide significant relief for benefits provided to employees and representatives of product issuers who provide general advice They also expressly allow bonuses to be linked to successful product sales providing the bonus ...

Since the 1996 Wallis Inquiry disclosure has been at the heart of the regulatory philosophy for the retail financial services sector in Australia Under the Financial System Inquirys terms of reference the Inquiry will refresh the philosophy principles and objectives underpinning the development of a ...

The hearings in the Financial Services Royal Commission have been compulsory viewing not only for financial services industry participants and their regulators and professional service providers The hearings have exposed wide-ranging actual or alleged wrongful conduct that has captured the attention ...

The third round of the Royal Commissions hearings concerned lending practices to small and medium enterprises SMEs The hearings considered a range of case studies ...

The Australian and Singaporean governments have recently concluded discussions on a landmark agreement that will see the two countries cooperating across a range of strategic initiatives including in the areas of trade and economics innovation education people and defence The Comprehensive Strategic ...