A tectonic shift – Australia’s first dedicated Cyber Security Act
Hot off the heels of its first tranche of reforms to the Privacy Act, the Federal Government has released a raft of cyber security legislation to ‘achieve Australia’s vision of being a world leader in cyber security by 2030’,[1] including Australia’s first dedicated ‘Cyber Security Act.’ Minister for Cyber Security Tony Burke introduced the: Cyber […]
ReadmoreFederal Court has bone to pick with Medtronic, awards largest ever penalty under Therapeutic Goods Act 1989 (Cth)
The Federal Court of Australia in New South Wales has hit medical devices giant Medtronic with a $22 million penalty and a $1 million costs order in its decision of Secretary, Department of Health v Medtronic Australasia Pty Ltd [2024] FCA 1096, which was handed down last week. Pursuant to its originating application dated 31 […]
ReadmoreFirst tranche of Privacy Act reforms enter parliament
The long-awaited Privacy Act 1988 (Cth) (Privacy Act) reforms are finally here, with the Privacy and Other Legislation Amendment Bill 2024 presented before parliament yesterday. After almost four years since the commencement of the Privacy Act Review, the government has introduced the first ‘tranche’ of these reforms. In tabling before parliament, the Attorney-General Mark Dreyfus […]
ReadmoreIs the finality of arbitrations now a myth for apportionable claims?
Proportionate liability now applies to the substantive law of arbitrations in Australia The finality of arbitrations is now a myth – at least in respect of disputes involving apportionable claims where parties have not contracted out of the proportionate liability regime. When parties to a commercial contract select arbitration as a forum for resolution of […]
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 […]
ReadmoreHigh Court decision confirms proportionate liability regimes apply in arbitrations
The High Court of Australia has handed down a significant judgment in Tesseract International v Pascale Construction [2024] HCA 24, with a majority finding that the proportionate liability laws apply to arbitrations. The case involved a contract for the provision of engineering consultancy work by Tesseract in connection with the development of a Bunnings Warehouse, […]
ReadmoreCourt orders Mercer Superannuation to pay an $11.3m penalty
Last year, ASIC commenced proceedings seeking declarations, pecuniary penalties and adverse publicity orders against Mercer Superannuation (Australia) Limited (Mercer) alleging that Mercer had made false or misleading representations and engaged in conduct that was liable to mislead the public in relation to financial services in contravention of sections 12DB(1)(a) and 12DF(1) of the Australian Securities […]
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 […]
ReadmoreNew draft ruling: Who is an employee, according to the ATO?
The ATO administers and enforces superannuation guarantee compliance under the Superannuation Guarantee (Administration) Act 1992 (Cth) (SGAA). The ATO has released its updated (draft) ruling TR 2023/4 on ‘who is an employee’, to set out its view on who is an employee for superannuation guarantee purposes. The update to draft ruling TR 2023/4 is a […]
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, […]
ReadmoreCourt considers whether a concerns notice was validly ‘given’ to commence a defamation proceeding
Gadens acted for the successful Defendant in the decision of Khan v Hassan [2023] VCC 852 where the court strictly applied requirements under the Defamation Act 2005 (Vic) (the Act) that must be met when serving a concerns notice to commence a defamation proceeding. The new requirement to give a valid concerns notice and wait […]
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