Insights

ASIC provides guidance on crypto-assets

On 29 October 2021, the Australian Securities and Investments Commission (ASIC) released Information Sheet 225: Crypto-assets (INFO 225) to provide guidance on the application of the Australian...

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ESG Considerations for Investment Funds in Australia – Disclosures

Earlier this year, Cathie Armour, a Commissioner of the Australian Securities and Investments Commission (ASIC), gave a speech on the rise of greenwashing and its potential threats.

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Treasury consults on Corporate Collective Investment Vehicles

On 27 August 2021, the Department of the Treasury of the Australian Government (Treasury) released a package of documents including exposure draft legislation and exposure draft explanatory...

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Treasury consults on Relief for Foreign Financial Service Providers

On 9 July 2021, the Department of the Treasury of the Australian Government released a consultation paper seeking industry feedback on options to extend regulatory relief to certain Foreign...

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ASIC consults on the ‘cornerstone’ of Australia’s financial services regulatory framework

On 22 April 2021, the Australian Securities and Investments Commission (ASIC) issued Consultation Paper 340: Breach reporting and related obligations (CP 340) which seeks industry submissions on...

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High Court considers the meaning of personal financial product advice

On 3 February 2021, the High Court of Australia (HCA) handed down its judgment in Westpac Securities Administration Ltd v Australian Securities and Investments Commission [2021] HCA 3  (Westpac v...

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2020 Australian investment funds landscape

As part of our most recent Australian Foreign Investment Update, our investment funds specialists highlight the recent, main regulatory developments that are likely to be of interest to offshore...

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Is it time for a superannuation fund merger?

With mounting pressure from the regulator and the burden of administrative costs, super funds are making the decision to merge more often than before; at least 28 have taken the step since 2014.

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Litigation funding regulation

The Corporations Amendment (Litigation Funding) Regulations 2020 (Regulations) were published on 23 July 2020.

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International Comparative Legal Guide: Public Investment Funds 2020

Partners Austin Bell and Andi Milidoni have written the Australian chapter for the International Comparative Legal Guide: Public Investment Funds 2020.

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ASIC releases new regulatory framework for foreign financial services providers (FFSPs)

On 10 March 2020, ASIC released its new regulatory framework for FFSPs providing financial services to Australian wholesale clients.

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ASIC engages in further consultation on regulation of foreign investment advisers and other FFSPs

On 3 July 2019, the Australian Securities and Investments Commission (ASIC) issued the long-awaited Consultation Paper 315 (CP 315), setting out its proposals for the new regulatory regime for...

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Review 2019

With significant regulatory change coming into effect the spotlight is staying firmly on culture, ethics and regulatory compliance. An organisation’s social licence to operate remains a priority...

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Public Investment Funds 2019

The International Comparative Legal Guide to: Public Investment Funds 2019

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Changes to the FFSP regime

On 1 June 2018, ASIC released Consultation Paper 301 in connection with the Australian financial services (AFS) licensing exemptions applicable to foreign financial service providers (FFSP...

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Corporate Collective Investment Vehicles – initial consultations completed

The target is within sight for the draft Corporate Collective Investment Vehicle (CCIV) legislation to be finalised.

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AFS licensing exemption under the FFSP Class Orders - reporting and disclosure requirements

Foreign financial service providers (FFSPs), that provide financial services to wholesale clients in Australia relying on one of the FFSP Class Order exemptions from holding an Australian financial...

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Australia’s foreign investment laws: a guide for foreign investors and their counsel

When a transaction with a direct or indirect connection to Australia is proposed, foreign investors and their counsel should consider whether notification is required or advisable.

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Turning income into capital or capital into income

Can a trustee treat receipts or outgoings as being on capital or income account irrespective of the nature of the receipt or outgoing? Legal and tax advisers have expressed various views on the...

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Conflicted remuneration - new ASIC policy guidance

ASIC has released guidance on its approach to administering the conflicted remuneration provisions of Part 7.7A of the Corporations Act 2001 (Act): Regulatory Guide...

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Proposed APRA prudential standards

The Australian Prudential Regulation Authority (APRA), the prudential regulator of superannuation funds, insurance bodies and banks, is proposing to release new prudential standards for trustees of...

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Hedge fund disclosure requirements - RG 240

On 18 September 2012, the Australian Securities and Investments Commission released Regulatory Guide 240 "Hedge funds: Improving

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ASIC updates disclosure requirements for unlisted property funds

In March of this year, ASIC released an updated version of "Regulatory Guide 46 Unlisted property schemes: Improving disclosure for retail investors", including updates to the eight disclosure

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PJC report on Trio Capital: call for a review of the regulation of managed funds

On 16 May 2012, the Parliamentary Joint Committee on Corporations and Financial Services (Committee) tabled its report on its inquiry in relation to the collapse of Trio Capital the largest

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Updating information in a PDS - beware the limits of Class Order 03/237

Issuers of Product Disclosure Statements (PDS) often rely on ASIC Class Order 03/237 to update information in a PDS. However, issuers need to be aware of limits on the updates to PDS information...

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