571-580 of 729 results
An opportunity for greater certainty for class action defendants
Class action settlement negotiations are often hindered by uncertainty about the number and identity of potential claimants A recent decision of the Supreme Court of NSW has paved the way for defendants to achieve greater certainty in respect of unregistered class members at an earlier stage than ...
Linklaters Insights: Corporate Criminal Liability report
As pressure from prosecution authorities increases it is becoming ever more important for international companies to be aware of the potential impact of criminal conduct committed by their executives and employees and the risks and liability the company may face as a result - not least in order to ...
Review into four major banks - money for consultants?
The Parliamentary Economics Committee released its report following its review into Australias four major banks yesterday Our Financial Services Regulation team has a look at the recommendations in this update ...
Risk culture - 'an evolving area of supervisory practice'
A director of a bank life company or general insurer who read APRAs recent information paper on risk culture could be excused for indulging in a wry smile Since mid-2015 he or she has been subject to legislative obligations concerning risk culture However the information paper suggests that APRA is ...
A blow to class action judgments achieving finality
In a recent decision, the High Court considered that a successful class action defendant cannot rely on mere failure by members of a class action to opt out of group proceedings to establish that these members are subsequently prevented from raising other claims ...
ASIC announces fintech licensing exemptions
As part of its implementation of the regulatory sandbox for fintech companies ASIC is providing relief for certain fintech businesses from the obligation to hold an Australian financial services or Australian credit licence Relief may be available for up to 12 months and may be useful to businesses ...
Court confirms life easier for default interest clauses post-Paciocco
New South Wales Court of Appeal case Arab Bank Australia v Sayde Developments considered the application of penalties doctrine to default interest rate provisions in load agreements post the high court's libera approach to the doctrine in Paciocco v ANZ. ...
Product design and distribution rules
On 13 December 2016 Treasury released a paper seeking feedback on the proposed financial product design and distribution obligations and proposed product intervention powers for ASIC The proposals are intended to create new accountability obligations for product issuers and distributors On one view ...
Take care with agency arrangements - Flight Centre decision
The High Court has handed down its decsion in the high profile ACCC proceedings against Flight Centre where the organisation competed with airlines in the sale of international airline tickets and attempted to induce three major airlines to enter price-fixing arrangements. ...
Insourcing investment management in super - challenges and opportunities for in-house teams
With the release of an ASFA Best Practice Paper on insourcing investment management we look at some of the challenges and opportunities for in-house legal teams that come with the seemingly inexorable move in the superannuation industry towards insourcing investment management functions ...