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Retirement income covenants (and egg metaphors)
Insight 20 Dec 2021

The long-promised retirement income covenants are slated to come into effect on 1 July 2022. The proposed covenants are aimed at improving retirement outcomes, including by moving retirees away from a 'nest egg' mentality towards spending more in retirement – or 'hatching' the nest egg (to borrow the extended metaphor of APRA's Deputy Chair). ...

APRA guidance on managing climate change financial risks finalised for banks, insurers and superannuation trustees
Insight 20 Dec 2021

Delivering as promised before the end of 2021, APRA recently finalised its prudential practice guide CPG 229 Climate Change Financial Risks. ...

Expansion in scope of transactions subject to FIRB approval rules
Insight 15 Dec 2021

In this Insight, we look at the changes and comment on what they mean for transactions. The changes to the SOCI Act also have operational implications for many businesses – which we will separately publish on. ...

Long-awaited sanctions reform may result in more dispersed sanctions risk
Insight 08 Dec 2021

Last year, the Parliamentary Joint Standing Committee on Foreign Affairs, Defence and Trade (the committee) recommended enacting legislation to establish a worldwide human rights sanctions regime. Last week, the government's response was tabled in Parliament. ...

Linklaters Insights: Anti-bribery and corruption law and enforcement across the globe
Insight 06 Dec 2021

An understanding of the global reach of anti-bribery and corruption regulation, as well as the application of it within a specific jurisdiction, is key to managing risk for today’s international businesses. ...

Australian class actions trends: 2021 update
Insight 01 Dec 2021

Class action litigation in Australia continues to be active and highly complex. Over the past 10 to 15 years, class actions have become an increasingly entrenched and accepted aspect of commercial life for organisations conducting business in Australia. ...

Portfolio Holdings Disclosure regulations: key aspects of the revised regime
Insight 30 Nov 2021

The long-awaited Portfolio Holdings Disclosure (PHD) regulations were made on 11 November 2021, which will give superannuation trustees certainty about the manner in which portfolio holdings information needs to be disclosed to the public. ...

ASIC consults on relief for superannuation calculators and forecasts
Insight 30 Nov 2021

ASIC has released Consultation Paper 351: Superannuation forecasts: updates to relief and guidance seeking feedback on proposals to extend and expand the relief for superannuation calculators and retirement forecasts. It has also released the draft relief instrument and draft regulatory guide. ...

A tale of two OAIC investigations – privacy implications for the use of facial recognition technology
Insight 23 Nov 2021

Determinations issued by the Office of the Australian Information Commissioner (OAIC) following two recent investigations against 7-Eleven and Clearview AI, reinforce a global trend of growing regulatory scrutiny of the use of facial recognition technology by private sector organisations, and follows Facebook's recent decision to shut down its facial recognition system. ...

What APRA's proposed changes to SPS 530 Investment Governance and findings on unlisted asset valuations mean for superannuation investments
Insight 22 Nov 2021

As promised in its 2021 Policy Priorities, APRA has released its draft revised prudential standard Investment Governance (SPS 530) for RSE licenses, and the outcomes of its review of unlisted asset valuations, as part of its report titled Findings from APRA’s superannuation thematic reviews. ...

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