Timely reminder for companies to lodge their financial reports
Recent prosecutions and convictions obtained by the corporate regulator serve as a timely reminder for companies of the importance of lodging financial reports. The Australian Securities and Investments Commission (ASIC) recently prosecuted and obtained convictions against three companies for failing to lodge annual financial reports with ASIC within the specified period after the end of […]
ReadmoreASIC’s new approach to regulatory investigations: the challenges and opportunities presented by Express Investigations
Under the banner of ‘when pilots become enduring practice’, ASIC Deputy Chair Karen Chester has announced that ASIC will supplement its traditional investigations processes with ‘Express Investigations’ (EI), ASIC’s new and preferred approach to enforcement. Corporate regulatory investigations are often legally and factually complex, high-stakes and process-heavy. Mountains of documents and witness evidence are commonplace. […]
ReadmoreACCC seeks ban on unfair trading practices
On 10 December 2020 the Australian Competition and Consumer Commission (the ACCC) released its Perishable Agricultural Goods Inquiry Report (the Report). Purpose of the inquiry The ACCC’s inquiry into markets for the supply of perishable agricultural goods was conducted at the direction of the Commonwealth Treasurer, the Hon. Josh Frydenberg MP. The ACCC conducted a […]
ReadmoreFSR Wrap | November 2020
As we approach the end of the year, Gadens’ FSR Team presents an update for the financial services regulatory market. This edition of FSR Wrap provides a focus on ‘business as usual’ regulations of importance to Australian financial services companies. As we look to 2021 and the introduction of a raft of legislation that has […]
ReadmoreWebinar | Climbing ladders, avoiding snakes and using your own dice – internal investigations
Project failure, misconduct and probity, amongst a much longer list, are all potential catalysts for the now ubiquitous “internal investigation”, a process which of itself should ring warning bells in any organization for both investigator and subject. This practical session will offer guidance for public entities conducting internal investigations, including on framing issues, progression through […]
ReadmoreFSR Wrap | July 2020
Gadens has launched a new financial services regulatory update publication to keep the market informed of the latest developments – welcome to FSR Wrap. Gadens has extensive knowledge and expertise across the financial services sector. In the July 2020 edition of FSR Wrap, Edward Martin, Glenn McGowan QC, Dudley Kneller and Gadens’ FSR team focus […]
Readmore‘Black Summer’ Royal Commission could redefine Commonwealth, State and local government roles, responsibilities and powers around natural disasters
After close to four months of battling bushfires in New South Wales and Victoria and confronting devastating loss of life, property, livelihood and wildlife, as well as two months of speculation, a Royal Commission arising from the ‘Black Summer’ bushfires has been announced. The Royal Commission into National Natural Disaster Arrangements will, however, inquire more […]
ReadmoreHunting together – time to refresh memorandums of understanding?
For many years, both State and Federal agencies have formally co-operated under MOUs as an important means of performing their regulatory mandates. In the post-Hayne environment, agencies should consider refreshing their existing MOUs or establishing new arrangements for information sharing and co-ordination with other regulators. Agencies can take guidance from Commissioner Hayne’s comments and the […]
ReadmoreWhat is missing in the Draft Single Charter of Aged Care Rights?
The draft ‘Charter of Aged Care Rights Consultation Paper’ outlines the basis for the development of a single Charter of Aged Care Rights. Once finalised the Charter will be part of the legislative framework that governs the aged care industry. A copy of the Draft Charter of Aged Care Rights can be accessed here. What […]
ReadmoreRoyal Commission to be established to look at Australia’s aged care sector – what might providers expect?
In a joint statement with the Health Minister Greg Hunt and the Aged Care Minister Ken Wyatt, Prime Minister Scott Morrison announced that the Government has made a decision to establish a Royal Commission into the Aged Care Sector. The announcement recognised that there are ‘thousands of extraordinary operators, facilities, care providers, nursing and other […]
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