661-670 of 932 results
Revisions to FIRB Guidance Note 23: clarity for foreign government investors
Recent reforms to the Foreign Acquisitions and Takeovers Act 1975 Cth introduced new provisions that deem foreign government investors of the same country to be associates of each other These provisions have created practical difficulties for foreign government investors who risk unintentionally ...
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 ...
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 ...
A framework for CIPRs or just more work for super trustees?
Treasury released a paper seeking feedback on a framework for Comprehensive Income Products for Retirement. It will permit trustees to offer members on a 'soft default' basis 'mass-customised, composite retirement income products' and, to encourage trustees ...
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 ...
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 ...
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 ...
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 ...