81-90 of 141 results
If in doubt, get the whitewash out
The High Court's first decision on the financial assistance prohibition in section 260A of the Corporations Act supports a conservative approach to the prohibition, and in particular highlights the danger of 'taking a view' on the no material prejudice exception. ...
ALRC's Discussion Paper released: a clearer, consistent and more rational framework for addressing corporate misconduct in Australia
The Australian Law Reform Commission released for consultation today a set of proposals aimed at overhauling the federal corporate criminal responsibility regime. This comes in the wake of criticisms that the current system is ineffective in preventing, deterring and prosecuting serious corporate crime. Whilst the reforms offer a clearer, consistent and more rational framework for addressing corporate misconduct in Australia, some elements (such as the adoption of a general 'associate' model for criminal attribution) will no doubt raise concern given their capacity to significantly extend corporate liability. We examine some of the key proposals and their likely impact. Partner Christopher Kerrigan and Senior Overseas Practitioner Cindy McNair report. ...
Final APRA Guidance on Information Security (CPG 234) released – are you prepared?
APRA has released the updated final version of its Prudential Practice Guide, which gives crucial context about how it views cybersecurity threats. ...
Treasury proposes tougher penalties for corporate and financial sector misconduct
The Federal Government has released exposure draft legislation for public consultation that if enacted will implement many of the recommendations of the ASIC Enforcement Review Taskforce to strengthen the penalty regime for corporate and financial sector misconduct Partner Simun Soljo and Lawyer ...
ASX Corporate Governance Principles and Recommendations: 4th edition
The 4th edition of the ASX Corporate Governance Principles and Recommendations focuses strongly on the link between culture, values and community expectations, consistent with the themes that emerged from the Royal Commission. ...
Retail banking remuneration review
The Australian Bankers Association last year commissioned Stephen Sedgwick to undertake a review of remuneration in retail banking ...
The efficacy of e-signatures
Allens has adopted e-signature using DocuSign as a service to clients. Senior Finance Counsel Diccon Loxton has written an article in two parts that examines the efficacy of e-signatures. ...
Material adverse change
In a recent decision the New South Wales Supreme Court held that a sufficiently significant failure to meet budget expectations could constitute a material adverse change and upheld the lenders right to serve a default notice and accelerate repayment on this basis Partner Diccon Loxton and Lawyer ...
The ASIC Enforcement Review Taskforce unloaded
The ASIC Enforcement Review Taskforce members and terms of reference have been announced The terms of reference are very broad and come as no surprise with an emphasis on evaluating the adequacy of ASICs enforcement toolkit We analyse the key themes that are likely to emerge ...
E-signature - a case study, but not a test case
A recent New South Wales Court of Appeal decision concerned a guarantee purportedly signed by e-signature without the guarantors knowledge It is an interesting case-study though the decision is really about ostensible authority and ratification Senior Finance Counsel Diccon Loxton considers its ...