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; […]
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 […]
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 […]
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 […]
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 […]
ReadmoreInfluencer compliance with advertising obligations fails to impress
Earlier this year the Australian Competition Consumer Commission’s (ACCC) conducted a sweep of social media platforms to understand how advertising was conducted in social media posts. An alarming 81% of influencers reviewed had made posts that did not wholly comply with the Australian Consumer Law (ACL).[1] Every sector ‘swept’ contained non-compliant posts, with the highest […]
ReadmoreThe Federal Court makes its order – Hungry Jack’s ‘Big Jack’ trade mark not deceptively similar to McDonald’s ‘Big Mac’
In a Federal Court judgment handed down in November, Justice Stephen Burley found that fast-food giants McDonald’s and Hungry Jack’s each had a measure of success in their dispute. The case relates to Hungry Jack’s BIG JACK and MEGA JACK burgers that Hungry Jacks began selling in early 2020, which McDonald’s alleged infringed its BIG […]
ReadmoreUnfair contract terms and your franchise agreement
As of 9 November 2023, changes to the unfair contract terms (UCT) regime have come into effect. Franchisors should be aware that unfair terms under the previous regime are void, while unfair terms under the new regime will be unlawful and significant penalties may apply (for companies, up to $50 million or even more). Unfair […]
ReadmoreThe deadline to update the Franchise Disclosure Register is 14 November 2023
Following the amendments to the Franchising Code of Conduct in 2021, the Franchise Disclosure Register (FDR) was established in November 2022. The FDR is administered by the Department of the Treasury and is accessible to the public, allowing prospective franchisees to access information about franchise opportunities. Purpose of the FDR The FDR aims to provide […]
ReadmoreConsumer gains – The regulation of sports supplement pills
Consumers of sports supplements stand to gain from increased oversight of sports supplements in medicinal dosage form through regulation of such supplements as therapeutic goods (ie medicines). The sports supplement industry has been regulated for some time now. For instance, oral sports supplements that contain certain high-risk substances, and claim to improve or maintain performance […]
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