381-390 of 452 results
ASIC's enforcement powers may receive a boost
In preparing its Final Report the FSI has clearly paid close attention to the report of the Senate Economics References Committees Report into ASICs performance and its recommendations designed to strengthen ASIC through a combination of better funding an enhanced regulatory toolkit and higher ...
The best interests duties - process or outcome?
Superannuation fund trustees and their lawyers including this one have been grappling for years with what the covenant in section 522c of the Superannuation Industry Supervision Act 1993 means What must a trustee do to exercise its powers and discharge its duties in the best interests of ...
Managing shareholder activism - who is in the driver's seat?
The recent New South Wales Supreme Court decision of Molopo Energy Limited v Keybridge Capital Limited reflects the continuing growth of shareholder activism in the Australian corporate landscape The case is a reminder that boards need to remain aware of developing activist strategies particularly ...
Bank technology failures: A new frontier for regulatory intervention?
The UKs regulatory authorities have imposed the largest ever fines in Europe for technology failures in the financial services industry following a serious IT incident affecting more than 65 million customers in the UK It should serve as a cautionary tale for Australian financial institutions ...
More limits on lawyer-driven litigation
Following a decision earlier this year preventing a solicitor from acting in a class action in which the solicitor managed and controlled the representative plaintiff the Victorian Supreme Court has held that a solicitor and senior counsel should be prevented from acting in a class action in which ...
Senate may disallow FoFA regulations
Senators Jacqui Lambie and Ricky Muir this morning joined a group of cross-bench Senators in announcing that they would vote with Labor and the Greens to disallow the Governments FoFA regulations made in June this year - the Corporations Amendment Streamlining Future of Financial Advice Regulation ...
ASIC seeking feedback on electronic disclosure proposals
The Australian Securities and Investments Commission is seeking feedback on proposals to help facilitate the increased use of electronic means of providing disclosure for financial products and services The proposals include new class order relief to facilitate the increased use of multimedia ...
Privacy Commissioner reports on Department of Immigration and Border Protection's data breach
The Australian Privacy Commissioner has released a report into the Department of Immigration and Border Protection having breached the privacy of asylum seekers in February 2014 Partner Michael Pattison and Associate Priyanka Nair report on the Commissioners findings and the lessons for all ...
High Court examines powers of responsible entities
The High Court has reaffirmed the powers of a responsible entity are ultimately derived from the scheme's constitution, but the exercise of those powers is constrained by the statutory and fiduciary duties imposed on the responsible entity. ...
Should APRA's prudential standard-making powers extend to directors' duties?
In recent times APRA has been active in prescribing duties for directors of the institutions it regulates In light of what has happened it is worth asking should the question of directors duties be excluded from APRAs prudential standard-making powers ...