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.

The recent decision of TEC Hedland Pty Ltd v The Pilbara Infrastructure Pty Ltd indicates that, for the purpose of assessing whether privilege can be claimed, multi-addressee emails will be considered as a number of separate communications between the sender and each recipient.

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Historically shareholders have appeared unfazed by news of cyber attacks with the vast majority of them having only a very minor and short-term impact on share prices However a recent study by CGI has found that cyber attacks can have a significant and lasting impact on the market value of a company

The Federal Court has declared that Youi Pty Ltd (Youi) breached its duty of utmost good faith under section 13 of the Insurance Contracts Act 1984 (Cth) (ICA) in relation to its handling of an insurance claim for damage to an insured’s home.

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Evolution v Chubb Insurance clarifies that unless a policy contains an advancement of defence costs provision, an insured should not assume it will be entitled to be reimbursed for defence costs as and when they are incurred if there is a debate with the insurer

After several months of delay due to COVID-19, the Bill implements a large number of the Hayne Royal Commission recommendations, and in particular picks up several of the recommendations that are aimed at reforming the insurance sector.

Earlier this year, the Government consulted on an exposure draft Bill that was intended to give effect to a number of recommendations arising from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Royal Commission).  

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The ACCC recently published the Digital Platform Services Inquiry Interim Report as part of its role in monitoring the impact of digital platforms on competition and consumers. The Interim Report examines the privacy / data handling, competition, consumer and small business implications.

The exposure draft legislation released yesterday for a ‘single default account’ aims to limit ‘the creation of multiple superannuation accounts for employees who do not choose a superannuation fund when they start a new job’.

Consultation is now open on the Government’s ‘Your Future, Your Super’ package.
As foreshadowed on Budget night, the package seeks to make three key changes to the current superannuation regulatory regime.

On 12 November 2020, Papua New Guinea’s (PNG) Parliament unanimously passed a Bill to establish an Independent Commission Against Corruption (ICAC). Almost a decade in the making, the successful passage of the Bill is a significant milestone in progressing PNG’s anti-corruption agenda.

Digital Platform Services Inquiry Interim Report; ACCC proceedings against Agrison alleging false or misleading representations about warranties; appeal on Employsure case; Trivago’s loses appeal; Compare the Market acquisitions of iSelect under review; ADT Security to refund customers/amend terms

In light of recent tensions, we assess the importance of Australian trading businesses understanding their sovereign risk and the avenues available under international trade law to mitigate that risk.

Litigation is increasingly being used to seek to compel government and business to take action on climate change and climate-related risks. Access key local and global trends at a glance in our latest insight.

Our key takeaways from the Government’s Retirement Income Review (with a focus on the superannuation implications).

The climate emergency is occupying mainstream policy focus in many countries and with the lack of viable alternatives to achieve the levels of deep decarbonisation consistent with net zero targets, clean hydrogen has unprecedented political and industry momentum.

The climate emergency is occupying mainstream policy focus in many countries and with the lack of viable alternatives to achieve the levels of deep decarbonisation consistent with net zero targets, clean hydrogen has unprecedented political and industry momentum.