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Proposed changes to Credit Risk Management Prudential Standard (APS220)
Insight 23 Dec 2020

In the absence of the Responsible Lending Obligations, lending by Australian banks will be regulated by APRA. This means the new Credit Risk Management Prudential Standard (APS220) will be the central legislative guidance in designing consumer assessment and lending protocols. ...

Allens advises on $4.2bn WestConnex refinancing
News 23 Dec 2020

The $4.2 billion of new non-recourse debt comprises $3 billion of bank term debt facilities with tenors of three, five and seven years, and a $1.2 billion two-year bridge facility. The interest rat ...

Allens advises on Australia's first PPP green loan
News 16 Dec 2020

The debt facilities refinance stage 1 of Canberra's light rail network, which began operations in 2019 and is the largest single infrastructure project ever undertaken by the Australian Capital ...

Design and Distribution Obligations
Insight 14 Dec 2020

Design and Distribution Obligations (DDO) regime is one of the biggest things for the financial services industry in 2020, affecting almost every part of the industry. ...

Coming clean and staying clean: continuous disclosure obligations in the age of the data breach
Insight 07 Dec 2020

Recent data, coupled with the Privacy Act 1988 notifiable data breaches scheme, APRA Prudential Standard CPS 234, the Security of Critical Infrastructure Act and the GDPR, confirm that when it comes to serious cyber security breaches, listed entities should be complying with existing continuous disclosure requirements. ...

A 'single default account' - your superannuation follows you
Insight 27 Nov 2020

The exposure draft legislation released yesterday for a 'single default account' aims to limit 'the creation of multiple superannuation accounts for employees who do not choose a superannuation fund when they start a new job'. ...

Your guide to the 'Your Future, Your Super' package reforms
Insight 27 Nov 2020

Consultation is now open on the Government's 'Your Future, Your Super' package. As foreshadowed on Budget night, the package seeks to make three key changes to the current superannuation regulatory regime. ...

Allens advises Bendigo and Adelaide Bank on offer of Capital Notes
News 24 Nov 2020

The Capital Notes offer includes an Institutional Offer, a Broker Firm Offer, a Reinvestment Offer for the CPS2 shareholders and a Securityholder Offer. The transaction will support the Bank's ...

Full Federal Court dismisses Commissioner's transfer pricing appeal against Glencore
Insight 18 Nov 2020

On 6 November 2020, the Full Court of the Federal Court of Australia handed down its much anticipated decision dismissing the Commissioner's appeal (save for one issue) against Glencore Investment Pty Ltd in a significant transfer pricing dispute. ...

APRA's revised Prudential Standard CPS 511 on remuneration frameworks and incentives for ADIs, superannuation funds and insurers
Insight 16 Nov 2020

After 17 months of consultation and internal review, APRA has released its revised draft prudential standard on remuneration (CPS 511) seeking to regulate incentive structures across all APRA-regulated entities. ...

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