Lawyers working in the field of financial regulation have become inured to said regulation producing weird, unintended outcomes. Even so, there are two outcomes produced by recently enacted laws that are unequivocally crazy. ...

APRA and ASIC issued a joint letter to all RSE licensees entitled 'Oversight of fees charged to members' superannuation accounts' in early April, in response to the 'fee for no advice' issue that attracted so much attention in the Royal Commission ...

Treasury has released a consultation paper on a new proposed simple standardised product disclosure document as part of the Federal Governments framework for Comprehensive Income Products for Retirement ...

During Royal Commission hearings last year, Commissioner Hayne ominously asked one witness: Does that raise a question of the criminal law? This Insight considers the implications of this question for financial service providers. ...

We will be able to cease speculation on what is in or not in the Final Report of the Financial Services Royal Commission on Monday evening or after whatever time it takes to read and digest ...

Very broadly speaking current legislation relating to responsible lending says that a person must not recommend or make an unsuitable loan to a consumer - an unsuitable loan being one that either does not meet the consumers requirements and objectives or imposes repayment obligations that they are ...

Australias market licensing regime has long been crying out for an overhaul with regulatory guidance that largely dates back to the early 2000s struggling in the face of significant developments in financial markets since then Fortunately ASIC has taken heed and is due to release an updated market ...

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 ...

Allens has acted on the latest example of a single asset infrastructure company entering the domestic debt capital markets. Perth Airport Pty Ltd, a subsidiary of Perth Airport Development Group ...