661-670 of 928 results
Court accepts market-based causation
Perhaps the most important unanswered question in Australian class action law has been how causation may be established in a shareholder class action After more than a decade of uncertainty the Supreme Court of NSW has ruled that shareholders can prove causation by establishing that the price of the ...
'Chain of Responsibility' amendments impose new environmental obligations in Queensland
The Queensland Parliament has passed the Chain of Responsibility Bill with important amendments prior to enactment The amending Act establishes a new regime under the States primary environmental legislation that exposes related bodies corporate executive officers financiers shareholders and a ...
Raising professional standards of financial advisers
Following on from the reviews conducted by the Parliamentary Joint Committee and the Financial System Inquiry the Government delivered on its promises by releasing an exposure draft of the Corporations Amendment Professional Standards of Financial Advisers Bill 2015 the Bill late last year for ...
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 ...
Updated fee and cost disclosure - transition period extended
ASIC has today announced that superannuation fund trustees and responsible entities will have until 1 October 2017 to comply with the updated fee and cost disclosure rules for PDSs set out in ASIC Regulatory Guide 97 and ASIC Class Order 141252 - but only if they comply with certain conditions ...
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 ...
Are super funds and managed investment schemes the next frontier for shareholders with activist agendas?
A recent Federal Court appellate decision highlights the fundamental tension in the Corporations Act between shareholders power to propose resolutions at members meetings and the proposition that a company is to be managed by its Board of directors ...
Mandatory margining: APRA final rules released
APRA has released its long-awaited Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives While these rules are based on the Draft released in February of this year and address some of the concerns raised during the consultation process there are still a ...
Default superannuation under the microscope
You may be forgiven for thinking the Productivity Commission is fixated on superannuation at the moment Its latest review centres on developing alternate models of allocating default members to products ...
Withholding tax on the sale of Australian property by foreign residents exposure draft legislation released
Exposure draft legislation implementing the Federal Governments promise to introduce a 10 per cent non-final withholding tax on purchasers of certain types of taxable Australian property by foreign residents has been released for review and comment Partner Charles Armitage and Associate Scott Lang ...