05 November 2021
FAR moving forward: What’s new and what next?
The Financial Accountability Regime Bill 2021 ( FAR Bill ) was introduced in the House of Representatives on 28 October 2021. This legislation will replace and extend the Banking Executive Accountability Regime ( BEAR ) (which currently only applies to authorised deposit-taking institutions ( ADIs...
05 October 2021
Parliamentary intelligence body backs two-step adoption for Australia's new critical infrastructure bill
On 29 September, the Parliamentary Joint Committee on Intelligence and Security ( PJCIS ) published its advisory report on the Security Legislation Amendment (Critical Infrastructure) Bill 2020. 1
26 July 2021
Bills, Parliamentary reviews, industry consultations… the Australian cyber regulation maze is about to become even more complex
On 13 July, the Government published a discussion paper on potential reforms to make Australia more resilient to cyber security trends. The Government considers that the way to get there is to create stronger incentives for Australian businesses to invest in cyber security. Submissions on the...
22 June 2021
Mandatory notification of ransomware payments in Australia appears likely
On 21 June 2021, Shadow Assistant Minister for Cyber Security, Tim Watts, introduced in Federal Parliament the Ransomware Payments Bill 2021 (the Bill ). This follows the Department of Home Affairs secretary, Mike Pezzullo, flagging the idea at a Senate Committee Hearing earlier this year in May...
09 November 2020
Securing Australia’s critical infrastructure: Government reforms will leave no sector untouched, but questions remain
On 9 November 2020, the Department of Home Affairs released the Exposure Draft of the Security Legislation Amendment (Critical Infrastructure) Bill 2020 for consultation, with submissions due by 27 November (the Bill ).
27 July 2020
Amendments to Queensland’s security of payment regime
Amendments to Queensland’s Building Industry Fairness (Security of Payment) Act 2017 ( BIF Act ) have now passed, simplifying the project bank account framework and amending the rights and obligations of all parties involved in construction contracts in Queensland.
26 March 2020
The Fairness Doctrine: A Return to the Status Quo?
In October 2019, the Full Federal Court decision in ASIC v Westpac Securities Administration Limited  FCAFC 187 ( ASIC v Westpac ) raised questions about the scope of the obligation on AFS licensees to act efficiently, honestly and fairly. Less than 6 months later, the Federal Court’s...
12 November 2019
Casting the regulatory net over virtual assets – SFC finalises new regulatory framework for virtual asset trading platforms
On 6 November 2019, the Security and Futures Commission ( SFC ) issued a position paper setting out a new regulatory framework for the licensing of centralised virtual asset trading platforms, following the SFC’s conceptual framework issued last year.
01 November 2019
Hong Kong SFC’s new electronic data requirements place MICs and cloud services in the spotlight
Yesterday, the Hong Kong Securities and Futures Commission ( SFC ) published a circular ( Circular ) on the use of electronic data storage providers ( EDSPs ) by licensed corporations ( LCs ).
10 October 2019
Corporate Crime Update, Autumn 2019
Welcome to the Autumn 2019 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. This bumper edition covers a number of jurisdictions, and includes content from the summer break. For the full update on...
20 January 2022
The Unified patent court and unitary patent – Introduction
A new patent right and patent enforcement system is coming for patent protection in the Europe which is likely to commence at the end of 2022 or early 2023 depending on when the final preparations are in place. There are two main elements of the new system: A Unified Patent Court ( UPC ) which will...
20 January 2022
Landmark Australian class actions book launches third edition
Following a period of evolution in the class actions market, the highly practical third edition of Class Actions in Australia is now available. An essential guide for any legal practitioner involved in class actions, the book provides complete coverage of class action law in Australia.
18 January 2022
Herbert Smith Freehills advises Chargeurs Museum Solutions on its acquisition of Event Communications
International leading law firm Herbert Smith Freehills has advised Chargeurs Musuem Solutions, international leader in museum services, on the finalisation of the acquisition of 100% of the capital of Event Communications Ltd, one of the global leaders in museum planning, design and delivery.
12 January 2022
Corporate Governance snapshot: Preparing your annual report and AGM notice in 2022
This snapshot summarises the key developments and issues arising in practice over the last 12 months which impact the 2021 annual report and the AGM in 2022. For further information or to obtain a copy of our full briefing on preparing your annual report and AGM notice in 2022, please email one of...
11 January 2022
Corporate Governance snapshot: Reporting in structured electronic format
The UK Transparency Rules require listed companies to produce their annual report and accounts in structured electronic format in respect of financial years beginning on or after 1 January 2021. The new rules require listed companies publish their annual report and accounts in XHTML web browser...
10 January 2022
PODCAST: THE NEW NATIONAL SECURITY & INVESTMENT ACT – WHAT DO PUBLIC M&A PRACTITIONERS NEED TO KNOW?
In the latest episode in our public M&A podcast series, we discuss the National Security & Investment Act – the new regime which gives the UK government powers to screen and block acquisitions and investments on national security grounds – and the impact for public M&A practitioners.
05 January 2022
Merricks v Mastercard: the litigation risks for the financial services sector
Herbert Smith Freehills LLP have published an article in Butterworths Journal of International Banking and Financial Law on the repercussions of the recent decisions in the Merricks v Mastercard litigation for the wider litigation landscape, particularly for the financial services sector.
24 December 2021
The Growing Importance of Social Loans for Project Finance
The last five years has seen a global boom in sustainable financing, primarily driven by green loans and bonds, and sustainability linked loans (SLLs). Growth in this area has been linked to a desire to align financing transactions with a broader imperative to improve the environmental impact of...
23 December 2021
Is it game over for computer-implemented inventions in Australia?
The Full Court of the Federal Court of Australia has provided some clarity on assessing whether computer-implemented inventions constitute patentable subject matter, finding that Aristocrat’s patent claims to electronic gaming machines with particular gaming features were not a “manner of...