Today the Full Federal Court clarified the law of penalties as it applies to fees The key development is that in considering whether the amount of a fee is extravagant and exorbitant compared to the potential costs incurred in dealing with a failure to perform an obligation the court held that ...

After almost 10 years of negotiations between the nations on 17 November 2014 Prime Minister Abbott and President Xi announced the conclusion of negotiations on the China Australia Free Trade Agreement ChAFTA Once implemented the ChAFTA is expected to significantly reduce import barriers for ...

The recent Great Southern class action settlement included a term by which group members acknowledged and admitted that loans taken out with independent financiers to finance investments in Great Southern managed investment schemes were valid and enforceable Two separate Victorian Supreme Court ...

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 Federal Government has announced that it will press ahead with changes to the future of financial advice provisions, initially by regulation and then by legislation ...

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 ...

Perhaps the most important unanswered question in Australian class action law is how causation may be established in the context of a shareholder class action In the United States this issue has been addressed by the fraud on the market theory This week the US Supreme Court rejected a challenge to ...

The Intergovernmental Agreement between Australia and the United States in relation to the implementation of the FATCA regime has been signed. ...

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 ...

Allens has advised Hillgrove Resources Limited on the refinancing of its debt, bonding and hedging facilities for the Kanmantoo copper mine operation, comprising a US$14 million Pre-Export Facility ...