Groundbreaking whistleblower developments – ASIC v TerraCom Limited ACN 143 533 537
On 26 August 2025, the Federal Court of Australia handed down a decision resulting in ASIC’s first enforcement outcome for contraventions of the whistleblower provisions of the Corporations Act (Cth) 2001 (Corporations Act) in ASIC v TerraCom Limited ACN 143 533 537. Background TerraCom Limited ACN 143 533 537 (TerraCom) is a public company listed […]
ReadmoreNew AML/CTF obligations for real estate businesses from 1 July 2026 – It’s time to start getting ready
From 1 July 2026, Australian real estate agents and property developers that sell property directly to customers without an agent will be subject to numerous anti-money laundering/counter-terrorism financing (AML/CTF) obligations as new ‘Tranche 2’ reporting entities under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, following legislative reform passed in late 2024 (Reforms). The Reforms […]
ReadmoreFinder: ASIC to continue to pursue cases to clarify crypto regulation as the Federal Court finds that a crypto-asset is not a debenture
On 24 July 2025, the Full Federal Court dismissed ASIC’s appeal against Finder Wallet Pty Ltd (Finder Wallet) and ordered it to pay costs.[1] The Court held that the primary judge made no error in concluding that the ‘Finder Earn’ product did not amount to a ‘debenture’ within the meaning of s 9 of the […]
ReadmoreIs your business ready for Australia’s new AML/CTF reforms?
Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime is undergoing major reforms to bring it in-line with international standards set by global financial crime watchdog, the Financial Action Task Force. New and reframed obligations will commence from 31 March 2026 for existing Reporting Entities (REs), and from 1 July 2026 numerous businesses operating in industries […]
ReadmoreFull Federal Court decision in BPS Financial litigation – More questions than answers for AFS licensees and authorised representatives?
In the latest development in ASIC’s litigation against digital asset business BPS Financial Ltd (BPS), on 30 May 2025 the Full Federal Court has allowed ASIC’s appeal against the primary judge’s decision that BPS was entitled to rely on the widely utilised ‘authorised representative’ exemption (AR Exemption) in section 911A(2)(a)(i) of the Corporations Act for […]
ReadmoreCrypto judgment overturned: Block Earner succeeds in cross-appeal against ASIC
*Article updated as of 22 May 2025 The Full Court of the Federal Court of Australia handed down its much-awaited decision on 22 April 2025, overturning the judgment of Justice Jackman in the Block Earner case.[1] The decision should give digital asset providers and market participants further clarity around the application of the complex financial services regime […]
ReadmoreAustralian Banking Association (ABA) launches new banking Code: a big step forward for banking staff and customer protection
Introduction to the new Code The Australian Banking Association’s (‘ABA’) new Banking Code of Practice (‘the Code’) came into effect on 28 February 2025. This latest iteration of the Code introduces enhanced customer protection and accessibility and sets higher standards for banks and their staff. The new Code sees significant structural and semantic changes from […]
ReadmoreGadens Regulatory Recap – 24 September 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, and ACCC including various enforcement actions taken by the regulators. ASIC ASIC calls on product issuers to review distribution practices for DDO compliance: ASIC is urging product issuers to improve their distribution practices following a review that found significant issues with how […]
ReadmoreChanging development approvals for developers and property owners in Queensland
Developers or property owners often need to make changes to a development approval in response to changing market conditions or operational needs. In Queensland, under the Planning Act 2016 (Qld) (PA) a person may apply to change a development approval for either a ‘minor change’ or a change ‘other than for a minor change’ (other […]
ReadmoreGadens Regulatory Recap – 4 September 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, OAIC, Treasury, and the Federal Parliament including various enforcement actions taken by the regulators. ASIC ASIC continues extensive action against greenwashing ASIC has made 47 regulatory interventions in relation to greenwashing misconduct, including commencing two Federal Court proceedings and issuing over […]
ReadmoreGadens Regulatory Recap – 21 August 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, OAIC, ACCC, and Treasury including various enforcement actions taken by the regulators. ASIC Financial advice update: The Financial Advice Update, published by ASIC on 9 August 2024, highlights key regulatory developments affecting Australian financial services (AFS) licensees and financial advisers. The update […]
ReadmoreASIC continues focus on financial hardship processes
Lenders should prepare for both an increase in financial hardship applications and heightened scrutiny from the regulator on how these hardship applications are managed. The Australian Securities & Investments Commission (ASIC) has found that lenders are not complying with their obligations in the cases of customers who are facing financial difficulty. As the cost of […]
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