New Mandatory Merger Control Regime Promises Balanced Reform
The Federal Government’s eagerly anticipated position on reforming Australia’s merger laws was released on 10 April, which it will seek to legislate with effect from 1 January 2026. Should the reforms be implemented as envisaged, we expect it to result in: greater certainty as to when notification to the Australian Competition and Consumer Commission (ACCC) is necessary; […]
ReadmoreCorruption and Integrity Update – March 2024
In this edition of the Queensland Corruption and Integrity Update we consider recent developments from the Office of the Independent Assessor, reports from the parliamentary committees overseeing the CCC, the Integrity Commissioner, the Ombudsman and the Information Commissioner, as well as updates from recent reviews by the CCC. Finally, we consider the implications for integrity […]
ReadmoreASIC obtains Judgement against SunshineLoans for charging fees not permitted by the National Credit Code
The Australian Securities and Investments Commission (ASIC) brought proceedings against SunshineLoans Pty Ltd (SunshineLoans) alleging contraventions of the National Consumer Credit Protection Act 2009 (Cth) (NCCPA) in its lending business, which involved small amount credit contracts (SACCs). ASIC alleged that SunshineLoans charged customers certain fees which were prohibited. ASIC sought injunctions and declarations of contravention, […]
ReadmoreGadens Regulatory Recap – 16 April 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, the OAIC, and the ATO, including various enforcement actions taken by the regulators. ASIC ASIC consults on misconduct reporting guidance for external administrators and controllers: ASIC is consulting on proposed updates to Regulatory Guide 16 (RG 16), which deals with the […]
ReadmoreASIC issues infringement notices to an auditor for failing to comply with independence standards
The Australian Securities & Investments Commission (ASIC) has, for the first time, issued infringement notices pursuant to the Corporations Act 2001 (Cth) (the Act) alleging that an auditor failed to comply with his audit rotation obligations. Allegations Following a voluntary disclosure to ASIC by the auditor pursuant to section 311 of the Act, ASIC stated […]
ReadmoreClause requiring insured to notify ‘if anything changes’ not an unfair contract term
A recent Federal Court decision has provided clarity on a policy holder’s obligation to notify an insurer of changes in circumstances under a general insurance policy and, in turn, provided guidance on when such a contractual obligation will not be an unfair contract term (UCT). The decision highlights, when considering whether a term of a […]
ReadmoreNational Integrity Spotlight – March 2024
In this month’s edition of the National Integrity Spotlight, we consider the most recent updates from the NACC, updates from the WA CCC, the High Court’s decision in a matter relating to the Victorian IBAC, NSW ICAC’s finalisation of its investigation into a public officer, and a special report of the ACT Integrity Commission. NACC […]
ReadmoreGadens Regulatory Recap – 4 April 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, the OAIC, and the ATO, including various enforcement actions taken by the regulators. ASIC New legislative instrument issued by ASIC extends relief for exchange traded funds: On 18 March 2024, the Australian & Investments Commission (ASIC) released new legislative instrument ASIC […]
ReadmoreASIC secures victory against Vanguard Investments for ‘ethically conscious’ greenwashing conduct
Last year, we reported on the Australian Securities and Investments Commissions (ASIC) commencement of proceedings against Vanguard Investments Australia Ltd (Vanguard) alleging that Vanguard engaged in misleading conduct in breach of the ASIC Act by making false or misleading claims about the ESG criteria applied to an investment fund it offered to potential investors. On […]
ReadmoreFMCG Express | March 2024 Edition
In this edition of FMCG Express we consider the regulatory landscape of AI, what to do when you receive a (potentially) defamatory online review, recent Fair Work Act changes (particularly how these changes affect casual workers), and we consider specifics around ESG reporting. Partner Breanna Davies and the Gadens team have prepared this edition to […]
ReadmoreBusy day in Parliament – Victorian Government responds to stamp duty and apartment design standards
On Thursday 21 March 2024, the Victorian Government released its responses to the inquiries in relation to land transfer duty fees and apartment design standards. Key takeaways are provided below. Commercial and Industrial Property Tax The government in its response confirmed its commitment to abolish and replace stamp duty with the Commercial and Industrial Property […]
ReadmoreFinder: ASIC to continue to pursue cases to clarify crypto regulation as the Federal Court finds that a crypto-asset is not a debenture
The Federal Court has handed down its second significant decision involving crypto assets this year. The judgment in ASIC v Finder Wallet Pty Ltd[1] (Finder) follows the recent decision in the BlockEarner case[2] and provides some further guidance for crypto-asset issuers attempting to navigate the present uncertainty around the intersection of digital assets and financial […]
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