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Class Action Insights
In recent months the funding of class actions has been prominent in the legal press The issues canvassed have included the regulation of third party funders the case for and against lawyers charging contingency fees attempts by lawyers to establish third party funding vehicles the Productivity ...
Can product suitability rules succeed where disclosure has failed?
One of the more interesting possibilities raised in the Interim Report of David Murrays Financial System Inquiry is the introduction of product suitability requirements as a complement to the current disclosure regime The Interim Report presents a case for change but does not set out in detail what ...
Isolated genetic material confirmed as patentable
In a unanimous decision the Full Federal Court has confirmed that genetic materials in their isolated form remain patentable in Australia The decision related to an appeal from an earlier Federal Court decision in which it was found isolated nucleic acids to be a manner of manufacture as required by ...
Section 54 of the Insurance Contracts Act: Putting insureds in the driver's seat
A recent High Court decision highlights the substantial scope of s541 of the Insurance Contracts Act 1984 Cth to prevent an insurer from denying cover following an insureds non-compliance with certain terms of an insurance policy. ...
Is the pain worth the gain?
ASIC has undertaken a bit of a survey of licensees who provide financial product advice to retail clients to see how they are faring a year into FoFA ...
ASIC seeking feedback on electronic disclosure proposals
The Australian Securities and Investments Commission is seeking feedback on proposals to help facilitate the increased use of electronic means of providing disclosure for financial products and services The proposals include new class order relief to facilitate the increased use of multimedia ...
The fiduciary duty of mortgage brokers?
There is lots of noise about the duties of financial advisers and lawyers including us love to debate whether FoFA has left any room for fiduciary obligations ...
Competition law update
In touch Competition law update is a regular publication by the Allens Competition Law group to keep you informed of the latest news and developments in this area ...
Peer-to-peer lending - a disruptive threat to banks?
The expansion of peer to peer lending in Australia will likely be a disruptive force for both banks and broader commercial stakeholders ...
Public authorities - reduced protection against negligence
In coming to a recent decision the Queensland Supreme Court has taken a narrow view of a section of that states civil liability legislation that was designed to limit the liability of public authorities in Queensland Partner Nicholas Ng and Senior Associate Goran Gelic report on this decision and ...