A recent Federal Court appellate decision highlights the fundamental tension in the Corporations Act between shareholders power to propose resolutions at members meetings and the proposition that a company is to be managed by its Board of directors ...

Foreign financial services providers relying on passporting a foreign licence to provide their services in Australia will find their regulatory relief could be expiring in 2 years - and has become subject to a new condition - following ASICs actions to repeal the ASIC Class Orders which give effect ...

ASIC issued Regulatory Guide 256 Client review and remediation conducted by advice licensees late last week In short RG 256 says an Australian financial services licensees duty to provide financial services efficiently honestly and fairly means they have to take responsibility for the consequences ...

Our class actions team recently published our Class Action Risk 2016 report The objective of the report is to look behind the headlines and hype that often surrounds class actions to provide a more holistic and objective assessment of class action risk for our clients This is particularly important ...

The main Prime Trust appeal judgement is relatively well known but a trusts responsible entities and their officers should look at what the appeal court had to say on other related matters ...

As the dust settles following the recent federal election it is a good time to reflect on what we can expect from the re-elected Coalition Government for the financial services sector There are two main groups of policy proposals that are going to need to get through Parliament The first is the ...

The Corporations Act 2001 Cth was amended in 2004 to include an additional obligation for Australian financial services licensees to have in place adequate arrangements for the management of conflicts of interest that may arise in relation to the activities undertaken by the licensees in the ...

There has been so much talk about blockchain and distributed ledger technology recently especially in financial services that you might be forgiven for thinking it might be more hype than substance But we think it could be very important technology ...

The Australian Securities and Investments Commission has granted relief to assist responsible entities of registered schemes to make changes to their constitutions to qualify for the new attribution managed investment trust regime without holding a members meeting In addition and in response to ...

Authored by a multidisciplinary team from Allens Blockchain Reaction is designed to assist business stakeholders decision makers and in-house counsel across a variety of sectors to understand the technology and how it is being used as well as navigate the regulatory and legal opportunities and ...