821-830 of 1172 results
Court confirms life easier for default interest clauses post-Paciocco
New South Wales Court of Appeal case Arab Bank Australia v Sayde Developments considered the application of penalties doctrine to default interest rate provisions in load agreements post the high court's libera approach to the doctrine in Paciocco v ANZ. ...
Privilege during class action investigations - no client required
Our recently released Class Action Risk 2016 report highlights the effect of lawyer and funder entrepreneurialism on the class action landscape Last weeks decision in the ongoing confidentiality dispute between IOOF Holdings Limited and Maurice Blackburn has provided a rare insight into the way ...
A blow to class action judgments achieving finality
In a recent decision, the High Court considered that a successful class action defendant cannot rely on mere failure by members of a class action to opt out of group proceedings to establish that these members are subsequently prevented from raising other claims ...
Product design and distribution rules
On 13 December 2016 Treasury released a paper seeking feedback on the proposed financial product design and distribution obligations and proposed product intervention powers for ASIC The proposals are intended to create new accountability obligations for product issuers and distributors On one view ...
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 ...
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 ...
The final analysis: Updates to ASX Guidance Note 8 on Continuous Disclosure take effect
Earlier this year ASX issued a consultation paper on proposed changes to Guidance Note 8 that sought to clarify existing continuous disclosure policy ASX has now released its consultation response together with the final version of Guidance Note 8 which took effect on 1 July 2015 While the final ...
High Court limits proportionate liability regime and expands insurers' liability for costs
The High Court yesterday overturned a decision of the Full Court of the Federal Court and held that if the same loss is caused by both apportionable and non-apportionable claims proportionate liability does not apply to the non-apportionable claims The High Court also ordered that the defendants ...
High Court decision on retention obligations provides some clarity to liquidators
The High Court has ruled that a liquidator has no obligation to retain monies on account of tax until a notice of assessment has been issued The decision will provide much needed clarity for liquidators and other statutorily deemed trustees and agents Partners Charles Armitage and Christopher ...