Gadens Regulatory Recap – 11 July 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, AFCA, ACCC, Treasury, and legislative updates, including various enforcement actions taken by the regulators. ASIC AFS licensees required to notify ASIC about ‘experienced provider pathway’ declaration From 1 July 2024, AFS licensees must notify ASIC within 30 business days if they receive […]
ReadmoreASIC presses for penalties and crypto regulatory clarity with Block Earner appeal
The decision by the Australian Securities and Investments Commission (ASIC) to appeal the latest Block Earner decision should give crypto asset providers some cause for concern. The regulator has signalled that, despite some recent court losses, it is prepared to continue its focus on the emerging industry in its pursuit of regulatory clarity. In February […]
ReadmoreASIC issues infringement notices to Fertoz Limited for alleged greenwashing
On 25 June 2024, the Australian Securities & Investments Commission (ASIC) confirmed that, on 21 June 2024, Fertoz Limited (Fertoz) had paid $37,560 in compliance with two infringement notices issued by ASIC in relation to alleged false or misleading statements that Fertoz had made in respect of its Reforestation Project in the Philippines. In issuing […]
ReadmoreGadens Regulatory Recap – 26 June 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, AFCA, AUSTRAC, OAIC, ACCC, Treasury, the Council of Financial Regulators, and legislative updates, including various enforcement actions taken by the regulators. ASIC ASIC grants class no-action position to second party opinion providers: On 14 June 2024, ASIC issued a class no-action position […]
ReadmoreDoing business in Australia
The Gadens Doing business in Australia guide provides foreign investors with an overview of the Australian business, economic and regulatory environment, as well as practical advice on how to go about setting up and doing business in Australia. Australia is an ideal investment location for foreign companies looking to grow internationally, benefitting from well-developed infrastructure, […]
ReadmoreUncovering greenwashing: ASIC’s latest pursuit of accountability – Judgment against Active Super
Last week, the Federal Court found that the superannuation fund Active Super had made misleading representations concerning its commitment to environmental, social and governance (ESG) factors in its investment decision-making. On 10 August 2023, the Australian Securities and Investments Commission (ASIC) commenced proceedings against the Local Government Superannuation Scheme (LGSS), as trustee of Active Super, […]
ReadmoreGadens Regulatory Recap – 11 June 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, AUSTRAC, OAIC and ACCC including various enforcement actions taken by the regulators. ASIC 5 million+ Australians have struggled to make loan and debt repayments, yet many not asking for help: ASIC is launching a new awareness campaign Just Ask! Hardship Help […]
ReadmoreGadens Regulatory Recap – 29 May 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, AFCA, ATO, AUSTRAC, OAIC, ACCC, Treasury and the RBA, including various enforcement actions taken by the regulators. Federal Budget Federal Government Budget: The Federal Government announced the 2024-25 Federal Budget on 14 May 2024, setting the Government’s key policy agenda for the […]
ReadmoreMandatory sustainability reporting regime: An update – Second reading debate completed
In the March 2024 edition of Gadens’ FMCG Express, we discussed the exposure draft of the Treasury Laws Amendment Bill 2024: Climate-related financial disclosure (Draft Legislation), which outlined a proposal for the implementation of a mandatory climate-related financial disclosure regime based on existing international frameworks and standards. On 27 March 2024, the Treasury Laws Amendment […]
ReadmoreGadens Regulatory Recap – 16 May 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ATO, ACCC, Treasury and the RBA, including various enforcement actions taken by the regulators. ASIC Scam alert: Scammers are changing the way they impersonate financial services businesses in sophisticated bond and term deposit scams: ASIC has issued a warning to consumers about a […]
ReadmoreCourt orders are not needed to evict renters
In the recent Supreme Court decision of Justice Harris in Commonwealth Bank of Australia v Shrestha [2024] VSC 229 (Shrestha) the Court was asked to determine whether a court order showing a mortgagee’s entitlement to possession of a mortgaged property is required prior to making a possession order against a renter under s 325 of […]
ReadmoreGadens Regulatory Recap – 30 April 2024
This edition of the Gadens Regulatory Recap highlights recent developments from ASIC, APRA, ACCC, and the RBA, including various enforcement actions taken by the regulators. ASIC ASIC releases early guidance on mandatory climate disclosure regime: During a keynote speech at Deakin Law School, ASIC Chair Joe Longo urged entities to prepare for Australia’s imminent mandatory climate […]
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