161-170 of 647 results
Changes to Regulatory Guide 256
ASIC has released a first-round consultation paper on proposed changes to Regulatory Guide 256: Client Review and Remediation Conducted by Advice Licensees. The proposed changes are substantial, and will apply to new entities including super fund trustees. ...
Government introduces the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020
The government yesterday introduced into Parliament the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 to implement a large number of the Hayne Royal Commission recommendations. Many provisions have a start date of 1 January 2021, and some don't have a transition period. ...
Nucleus – corporate law developments: ASIC concludes stub equity consultation; FIRB amending legislation introduced; FIRB updates guidance on tax conditions; proposal to make electronic signing and virtual meetings permanent; and other corporate law developments
ASIC concludes position on use of stub equity in control transactions; ASX extends emergency class waivers and clarifies ability to ratify use of additional placement capacity; FIRB amending legislation introduced to Parliament; FIRB updates guidance on tax conditions; ACCC to examine competition in mobile apps; Fair Work Commission extends temporary COVID-19 flexibilities in 99 modern awards; Federal Government proposes to make electronic signing and virtual meetings permanent. ...
Funds and institutional investors: a pivotal role in the infrastructure-led recovery
Funds and institutional investors are uniquely positioned to play a pivotal role in this recovery and to respond to the disruption and opportunities that have been presented in infrastructure. ...
A key landmark in IBOR transition
The long-awaited ISDA IBOR Fallbacks Supplement and Protocol will be going live today with the endorsement of ASIC, the RBA and APRA. They implement new benchmark fallbacks for both future and existing derivative contracts, facilitating the efficient transition from LIBOR and other IBORs in anticipation of their discontinuation. If you have a derivatives portfolio, the Protocol allows quick and easy adoption of the new fallbacks through a one-off adherence. That said, it may not be sufficient to cover all scenarios. ...
From MySuper to YourSuper
The Government released a paper entitled 'Your Future, Your Super' setting out 'reforms to make your super work harder for you' in the 2020-21 budget. This article summarises the measures and gives our take on them. ...
Use of stub equity in control transactions
ASIC has released its response to the submissions on its June 2019 Consultation Paper on certain aspects of the use of stub equity in control transactions, and the news is mostly positive. ...
Nucleus – corporate law developments: Second tranche of draft FIRB reforms; ASIC Corporate Plan for 2020-24; High Court clarifies personal/carer's leave entitlements; and other corporate law developments
Second tranche of draft FIRB reforms released; ASIC releases Corporate Plan for 2020-24; ASIC grants relief for escrow and non-promotional communications for IPOs and updates RG5 and RG254; High Court sides with employers and clarifies personal/carer's leave entitlements; ACCC releases ninth interim gas inquiry report; extension of temporary COVID-19 continuous disclosure and insolvency relief measures; ALRC reports on Australia's corporate criminal responsibility regime. ...
Insolvency reforms to support small business
The Commonwealth government announced a package of reforms directed at streamlining insolvency processes for small business. Our analysis on the issue from our insolvency and restructuring experts. ...
ASIC issues hardship withdrawal relief to responsible entities
In response to the COVID-19 pandemic, ASIC has provided relief reminiscent of the GFC to allow hardship withdrawals from frozen funds. The COVID-19 version of hardship-relief goes further than its GFC predecessor in many respects. We provide an overview of the issue. ...