In October 2014 ASIC released its report into retail life insurance advice practices The findings were pretty grim - with poor advice being more common than good or even adequate advice ASIC said that advisers were motivated by the promise of commissions not the interests of their clients Following ...

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 ...

To coincide with Privacy Awareness Week, the OAIC has released a number of business resources. This Insight considers the key implications for stakeholders. ...

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 Australian Government has released its alpha Digital Service Standard which establishes criteria that all Australian digital government services must meet to ensure they are simpler faster and easier to use ...

With financial services providers already taking advantage of the possibilities created by a new tide of internet meta data we need regulators and a regulatory regime that see the opportunities implicit in the change and not only the risks ...

ASIC has released a report looking at the way vertically integrated funds management businesses deal with conflicts of interest The report summarises the findings of ASICs recent review of a number of businesses and sets out some good practice recommendations Partner Marc Kemp and Senior Associate ...

The High Court of Australia has decided that a third party claimant can join an insolvent or potentially insolvent defendants insurer to proceedings to seek a declaration that the insurer is liable to indemnify the defendant Partner Andrew Maher and Lawyer Shelley Drenth discuss the decision and its ...

Allens has advised investment management firm H.R.L Morrison & Co in relation to the acquisition of Canberra Data Centres ( CDC ) on behalf of its clients Infratil and Commonwealth Superannuation ...