Regulatory Enforcement
Australian businesses face an evolving risk landscape, increasing regulatory scrutiny and heightened community expectations.
Navigating the complexity with you
Organisations are facing an era of rapid change against a backdrop of economic and social uncertainty. Climate change risk, the energy transition, and cyber, social and governance considerations, are high on the agenda for law enforcement agencies across the world. Regulators are adding layers of complexity to address this changing world and adapting broad normative standards in new ways.
How we can help
We will partner with you to work through regulatory enforcement processes in the current environment of risk that includes escalating corporate penalties, public expectations for senior-executive accountability, cross-jurisdictional contagion and associated class action risks.
Expertise in the processes of enforcement
We have worked on significant matters with all of the major Australian regulators, law enforcement and other government agencies, including ASIC, the OAIC, AUSTRAC, APRA, ACCC, ATO, ACMA, the eSafety Commissioner, Australian Federal Police, state-based police and the Australian Signals Directorate. We have strong relationships with these regulators and agencies and know how they operate.
We have expertise with the technological tools to manage efficiently major investigations and meet the most demanding deadlines. We have navigated some of the most challenging matters in this space, involving multiple concurrent inquiries and investigations, and associated litigation.
Managing the bigger picture
Our team has depth of experience in addressing all of the issues that can arise in connection with regulatory enforcement action, including disclosure issues, director and officer liability and class action risk. Our market-leading experience in crisis management brings together our expertise in these areas (and more). We also offer risk and compliance advisory, to take the lessons learned from regulatory enforcement issues and build back stronger the relevant systems and processes.
Experience across sectors
We have detailed understanding of the industry sectors that our clients are operating in, including:
Our speciality areas
Corporate crime
Australia continues to strengthen and modernise its corporate criminal laws. With the benefit of our industry-leading experience, we assist clients to address the spectrum of corporate criminal matters, including foreign bribery, sanctions, fraud and money laundering. This ranges from internal investigations through to court proceedings.
We also help clients uplift their preventative and detective controls.
Environmental, Social and Governance
More than just a set of obligations or expectations, ESG is a roadmap to the Australia of 2030.
Our ESG team has a robust understanding of the market's regulatory and policy drivers. We take a holistic approach to assessing and engaging with the broad range of ESG risk and compliance – from climate change and resource efficiency, human rights and community engagement, to anti-bribery and corruption, transparency and disclosure, product governance, and risk management more generally.
Anti-money laundering and counter-terrorism financing (AML / CTF)
AML/CTF considerations should be front of mind for all parties involved in a product issue, as liability rests with the reporting entity.
Our market-leading experts guide clients through AML/CTF investigations and compliance with laws and regulations, which often have extraterritorial reach. We have advised a range of clients, including major Australian and international banks and financial institutions.
Crisis management
With increasing levels of scrutiny, organisations continue to sharpen their focus on the prevention of and recovery from crisis. Our team of specialists helps clients through this process, creating and testing crisis readiness plans and delivering crisis response training. Visit our Incident Response Map for high-level guidance on responding to an incident.
Commissions of inquiry
There is an increasing trend for Royal Commissions and other commissions of inquiry to investigate and report on issues of public significance. Our experts have assisted clients responding to Royal Commissions and state-based commissions of inquiry into specific industries and corporations.
Cyber, data and technology
Our leading cyber and data protection team works closely with organisations to help prepare for and mitigate cyber risks, rapidly respond to cyber events and data breaches, and manage (and learn from) the fallout.
Governance and senior management accountability
Regulators continue their work to uplift corporate governance practices, including management of non-financial risk. Companies have the challenge of striking the right balance between the obligations of directors and the rights and expectations of shareholders.
We have extensive experience on a wide range of corporate governance matters, including the Financial Accountability Regime, directors’ duties and APRA's CPS 511 prudential standard on remuneration. We have worked closely with client boards, in-house lawyers, the human resources and company secretariat functions, and individual directors (in particular, board and committee chairs).
Experience
ANZ investigation and criminal cartel prosecutions by the ACCC
Acted for ANZ in an ACCC investigation and subsequent criminal cartel prosecutions brought against it, two global investment banks and six senior executives in relation to a $2.5 billion institutional share placement undertaken by ANZ in August 2015.
Bendigo and Adelaide Bank
Assisted Bendigo and Adelaide Bank to respond to an ASIC investigation into unfair contract terms in standard business loan documentation, and in defending a Federal Court proceeding brought by ASIC alleging unfair contract terms in standard terms used by two of the bank's divisions.
Snowy Mountain Engineering Company (SMEC)
Conducting a series of independent investigations for SMEC in connection with allegations of bribery of foreign public officials. Advised SMEC on its engagement with the AFP, ASIC, DFAT, and the multilateral development banks (which fund many of the projects that SMEC works on), such as the World Bank and the Asian Development Bank.
Australia Post
Acted for Australia Post in the Shareholder Departments' investigation and Senate inquiry relating to the gifting of watches to employees.
ASIC: Bank Bill Swap Reference Rate
Acted for Westpac in relation to an ASIC investigation, and related proceedings, of potential manipulation of the Bank Bill Swap Reference Rate, known as BBSW and the Australia Equivalent of LIBOR. The BBSW investigation was the largest investigation ASIC has ever conducted.
ASIC
Acted for Macquarie Group in obtaining a stay of the conditions ASIC imposed on the financial services licences of a number of companies in the Macquarie Group. After proceedings in the AAT, we were successful in having the licence conditions removed by consent.
AFP & ASIC
Advised CIMIC on a range of matters arising from allegations of foreign bribery made by the Australian Federal Police and ASIC.
ASIC: add-on insurance products
Advised Allianz in relation to ASIC's ongoing industry-wide review into the sale of add-on insurance products through motor dealers.
Banking Royal Commission
Advised banks, superannuation funds and executives in relation to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Royal Commissions and public inquiries related to natural disasters
Represented the Insurance Council of Australia Limited in relation to the 2009 Victorian Bushfires Royal Commission and acted for Seqwater in the Queensland Flood Royal Commission, where it has assisted the Commission in understanding the key decisions taken during the major flood event in January 2011.
ATO
Acted for multinationals and leading Australian companies in relation to audits and investigations conducted by the ATO and other revenue authorities, including in relation to transfer pricing, the general anti-avoidance provision, diverted profits tax and the research and development tax concessions.
ACCC: pharmaceuticals
Acted for Pfizer in successfully defending misuse of market power and exclusive dealing allegations in relation to the supply of medicines to pharmacies.
ACCC: FMCG
Acted for PZ Cussons in the first of its kind 'hub & spoke' cartel conduct case in relation to the supply of concentrated laundry detergents.
AFP
Conducted an internal investigation for a major European multinational manufacturing company into potential corrupt conduct undertaken by a recently acquired subsidiary in Asia, leading to a voluntary disclosure to the Australian Federal Police.
APRA & ASIC: superannuation
Assisted a Retail Banking Group with APRA and ASIC investigations into MySuper and employer super arrangements.
AUSTRAC
Advised numerous clients on Anti-Money Laundering (AML) compliance issues, including responding to AUSTRAC recommendations where non-compliance with AML laws have been alleged.