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). ...

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 ...

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. ...

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 ...

Commissioner Hayne's recommendations may initially seem somewhat modest – they do not undo vertical integration, impose limits on executive remuneration or ban bonuses and they do not recommend that directors prefer the interests of their customers. But, while it is true that the recommendations are not radical, there is much in the report that will mean some real changes for financial services companies, their Boards and their executives, as well as for their regulators and advisers. ...

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 their application and enforcement. ...

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 ...

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 ...

It is critical that listed entities understand how COVID-19 is likely to impact their businesses and are prepared to make necessary disclosures to the ASX. To date, the majority of ASX-listed entities have not made any disclosure in relation to COVID-19. In this update we have set out a number of scenarios that should be considered by listed clients as part of the proper and ongoing assessment of the need for disclosure under the ASX Listing Rules. ...

On 24 March 2020, the Fair Work Commission varied the Hospitality Industry (General) Award to introduce temporary changes in response to COVID-19, following government orders to shut down various parts of the hospitality industry. This Insight examines some of the key implications. ...