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High Court clarifies limits on class action Common Fund Orders
The High Court has delivered a significant ruling that clarifies when and how Common Fund Orders can be made in class actions. This decision is particularly relevant to litigation funders, class actio ...
ESG class actions: emerging trends
As the global push towards decarbonisation and ethical sourcing intensifies, businesses must keep abreast of ESG developments not only to maintain their social licence to operate and comply with evolv ...
Rare guidance from the NSW Supreme Court on when a bank can terminate a customer account
Rare guidance from the NSW Supreme Court on when a bank can terminate a customer account ...
Cyber enforcement in the spotlight again as ASIC pursues Fortnum Private Wealth
ASIC has commenced civil penalty proceedings against AFS licensee Fortnum Private Wealth Limited (Fortnum), alleging it failed to adequately manage cybersecurity risks across its network of authorised ...
Principals face injunction risk if recourse to security is not made before the obligation to return arises
The Court of Appeal of the Supreme Court of South Australia has granted an interlocutory injunction restraining a principal under a construction contract from making a demand against security, on the ...
RBA’s payment shake-up: implications for merchants and payment service providers
The Reserve Bank of Australia (RBA) has published a consultation paper setting out its proposed changes to the standards regulating interchange fees and merchant surcharging, following consultation on ...
Allens advises Platinum Asset Management on proposed merger with L1 Capital
The merger will see Platinum acquire L1 Capital in exchange for issuing new ordinary shares to L1 Capital's existing shareholders. Following completion of the transaction, L1 Capital's existing ...
Class actions midyear update 2025
While 2025 is tracking ahead of previous record-setting years for class action filings, setting a new benchmark may hinge on a repeat of the late-year filing frenzy seen in the past. ...
Children’s privacy: what’s next for the upcoming OAIC code?
The second phase of the process run by the Office of the Australian Information Commissioner (OAIC) to develop a new Children's Online Privacy Code has commenced, with the release of an Issues Paper o ...
ASIC provides relief for licensees under the reportable situations regime
ASIC has provided some additional relief from the 'reportable situations' regime that applies to Australian financial services and credit licensees. The changes apply immediately, and licensees should review and update their internal systems for dealing with incidents and reportable situations to re ...