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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 ...
Hayne report – first impressions
Commissioner Hayne's recommendations may initially seem somewhat modest – they do not undo vertical integration, impose limits on executive remuneration or ban bonuses and they do not recommend that directors prefer the interests of their customers. But, while it is true that the recommendations are not radical, there is much in the report that will mean some real changes for financial services companies, their Boards and their executives, as well as for their regulators and advisers. ...
Round 1: Experiences with consumer lending practices
In the Final Report, the Commissioner has found that, for the most part, whilst the legislative tools necessary to protect borrowers are already available, there have been significant shortcomings in their application and enforcement. ...
Detailed analysis
In the Final Report, the Commissioner has found that, for the most part, whilst the legislative tools necessary to protect borrowers are already available, there have been significant shortcomings in ...
Linklaters and Allens advise on Victoria International Container Terminal Limited
On 20 July 2016, Victoria International Container Terminal Limited ( VICT ), the Australian subsidiary of International Container Terminal Services Inc. ( ICTSI ), successfully closed an export ...
CAMAC is dead. Long live the FSI
The recent Federal budget included measures to abolish some government bodies by 1 July 2015 One of those is the Corporations and Markets Advisory Committee CAMAC This is a pity for those involved in the funds management industry because it means that CAMAC is no longer accepting submissions in ...
Will ASIC shift its regulatory focus from disclosure to suitability?
The Financial System Inquiry inevitably the Murray Inquiry is the successor of the Campbell Inquiry 1979-1981 and the Wallis Inquiry 1996-1997 Both the Campbell and Wallis reports considered that investors were best protected through disclosure and market integrity rules Both reports assumed that ...
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 ...
Short on solutions for a growing problem
The Financial System Inquirys interim report devotes a lot of space to superannuation but doesnt have a great deal to say What is missing from the report is any vision for a retirement income system and it is hard to see how the FSI will bring about any significant changes It is also hard to see ...
SOPA adjudications in Western Australia - only the applicant can win!
The Supreme Court of Western Australia has held that under that states security of payment legislation an adjudicator does not have the power to make a determination that requires an applicant to pay the respondent money by reason of any counterclaim raised in the adjudication An adjudicator may ...