ASIC released its report Financial advice Fees for no service today It says that there has been a systemic failure by advice licensees within some of the major banks and AMP to provide ongoing advice in return for ongoing fees The report relates chiefly to arrangements between licensees and clients ...

For more than 150 years trustees have been able to obtain advice from courts on matters affecting the management or administration of trust property and on matters respecting the interpretation of trust deeds Trustees would usually only seek such advice however if they had doubts about a proposed ...

The Commonwealth Treasury is seeking feedback on how to kickstart social impact investment in Australia ...

The NSW Court of Appeal has considered whether different groups of secured creditors should be placed into separate classes for the purposes of voting on a proposed creditors scheme of arrangement ...

The ASIC Enforcement Taskforces latest consultation paper pushes for a tougher penalty regime for corporate and financial sector misconduct which has been key focus of the Taskforces Terms of Reference and indeed of ASICs reform agenda for some time Partner Belinda Thompson Senior Associate Michela ...

While ASIC has published information on the issue of coins or tokens in initial coin offerings other regulators around the world have also been issuing guidance with some taking a much more restrictive approach Although Australia remains a relatively friendly regulatory environment for such ...

The commencement date of the BEAR legislation is fast approaching and institutions should start planning how to comply with the regime We look at the changes made to the BEAR legislation following industry submissions the timing for implementation and key steps to take ...

The Productivity Commission's report on superannuation has provided an odd mix of reccomendations ranging from uncontroversial to outright bizarre, Senior Regulatory Counsel Michael Mathieson writes. ...

In her summary my colleague, Michelle Levy, said her initial reaction was that the recommendations in the Final Report were modest but, on a second reading, some would set a cat among the pigeons. ...

Allens has advised Bendigo and Adelaide Bank on the first wholesale Tier 2 subordinated note issuance by an Australian domestic bank since the Basel III rules in relation to regulatory capital came ...