Full 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 […]
ReadmoreOliver Hume decision – Independent investors charged with aggregated landholder duty on capital raising
The Victorian Court of Appeal has recently handed down its unanimous decision in Oliver Hume Property Funds (Broad Gully Rd) Diamond Creek Pty Ltd v Commissioner of State Revenue [2024] VSCA 175. The Court of Appeal found that 18 independent and unrelated investors who subscribed for shares under a publicly available information memorandum were held […]
ReadmorePretending that the Surplus is Real – Gadens’ take on the Federal Budget
Buttressed by the record tax windfall from commodity exports, the second Chalmers Budget shirks the responsibility to pursue substantive tax reform and defaults to a series of measures which, whilst preserving a sense of political “Chalm”, appear lacking in coherent policy direction or strategy. On a night when a tax avoidance scandal cost the Government […]
Readmore
