ASIC 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 […]
ReadmoreChange at pace: What you need to know about recent changes to the Fair Work Act 2009 (Cth)
Workplace laws are changing following the passage of the Fair Work Legislation Amendment (Closing Loopholes) Act 2023 (Cth) (Closing Loopholes No.1) and the Fair Work Legislation Amendment (Closing Loopholes No.2) Act 2024 (Cth) (Closing Loopholes No.2) in the past few months. The changes are some of the most significant workplace law reforms seen in some […]
ReadmoreFrom fine to felony: The looming criminalisation of wage underpayments
The obligation for employers to pay their people correctly is not new. However, the consequences of getting it wrong are about to get dire. Whether your company or organisation employs one person or 10,000 people, it’s now more important than ever to review your processes, controls and risks related to payroll and get ahead of […]
ReadmoreRestructuring and downsizing: Tips and traps
For most businesses, a decision to undertake an organisational change can mean a reduction in operational costs, a reduction in roles, an increase in efficiencies and streamlined decision-making. However, the announcement of a restructure can often leave staff of all levels feeling tense and uncertain. Effectively navigating organisational change is not something that happens by […]
ReadmoreGadens Regulatory Recap – 19 March 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, AFCA, the OAIC, and the ATO including various enforcement actions taken by the regulators. ASIC ASIC calls on insurers to improve claims handling practices: On 6 March 2024, ASIC issued a letter reminding general insurers of their obligations regarding insurance claims […]
ReadmoreSupreme Court of Victoria – Commercial Court Practice Note (Second Revision)
A new practice note has been issued by the Commercial Court of the Supreme Court of Victoria. The Commercial Court Practice Note (Second Revision) (Practice Note) supersedes its predecessor, becoming effective as of 26 February 2024, and applies to all current and future proceedings in the Commercial Court. This note captures key changes arising from […]
ReadmoreBuy Now Pay Later: the shape of the new regulatory regime
Treasury has released the much anticipated draft legislation for the regulation of Buy Now Pay Later (BNPL) products and confirmed that BNPL providers should prepare to obtain a new or modified Australian Credit Licence and work through the impact of being regulated as credit providers on their businesses. Anti-avoidance protections promise to ensure there is […]
ReadmoreCorruption and Integrity Update – February 2024
In this edition of the Corruption and Integrity Update we consider the proposed legislative amendments relating to the operation of the Crime and Corruption Commission (CCC), including the Crime and Corruption Amendment Bill 2023 and the Crime and Corruption and Other Legislation Amendment Bill 2024, as well as the establishment of an independent review of […]
ReadmoreThe QIRC rejects employee’s bid to return to work despite favourable medical assessments
The Queensland Industrial Relations Commission (QIRC) has rejected an employee’s claim that he was unlawfully discriminated against after his employer refused his request to return to work following a non-work related injury. The employee underwent multiple medical assessments which concluded he was able to resume normal duties, which the employer, for safety-related reasons, chose to […]
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