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09 December 2021
The UK Online Safety Bill: Harmful (but legal) content and what’s next
While regulation of the internet in the UK has (up until recently) been light-touch, the last decade has exposed countless examples of the harmful impact of online content and has highlighted the need for greater regulation in this area.
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...
15 June 2021
ASIC’s consultation on regulator guidance closes as financial service and credit licensees prepare for Australia’s breach reporting reforms
In April of this year, we wrote about draft guidance released by the Australian Securities and Investments Commission (ASIC) on the significant impending changes to Australia’s breach reporting regime.
26 April 2021
Regulator guidance the latest development in countdown to Australia’s breach reporting reforms
In December last year we wrote of the sweeping changes to Australia’s breach reporting regime that had been passed into legislation by Federal Parliament and would have significant implications for Australian financial services and credit licensees ( AFS Licensees and Credit Licensees respectively).
30 March 2021
New ACICA 2021 Arbitration Rules
The Australian Centre of International Commercial Arbitration ( ACICA ) has unveiled revised Arbitration Rules due to enter into force in April 2021. As arbitration continues to be on the rise in Australia, and ACICA enjoys record caseloads, the 2021 ACICA Rules set out ACICA’s vision for the...
21 December 2020
Australia approves sweeping changes to breach reporting regime
In a move with significant implications for Australian financial services and credit licensees ( AFS Licensees and Credit Licensees respectively), the Federal Parliament has passed legislation endorsing several reforms recommended by the Financial Services Royal Commission, including to the regime...
14 December 2020
SFC releases FAQs simplifying compliance with electronic data storage requirements – But is it really as simple as it looks?
The Hong Kong Securities and Futures Commission (SFC) has released its long awaited FAQs regarding its 31 October 2019 circular on the use of external electronic data storage providers (EDSP Circular). While there are some aspects of the FAQs which we anticipate will create practical challenges and...
11 December 2020
Australian foreign investment reform legislation passed by Parliament
The Foreign Investment Reform (Protecting Australia’s National Security) Act 2020 ( Reform Act ) and the Foreign Acquisitions and Takeovers Fees Imposition Amendment Act 2020 ( Fees Act ) received Royal Assent on 10 December 2020, confirming that the Commonwealth Government’s changes to Australia’s...
21 July 2020
Using big data to fight financial crime
In a regulatory environment which demands ever higher standards for anti-money laundering ( AML ) compliance, many financial institutions have responded by significantly increasing headcount in their AML functions, often at significant cost. However, an investment in headcount alone may not yield...
21 July 2020
Regulators lead businesses in monitoring of misconduct
As regulators and law enforcement increasingly rely on advanced data analytics for monitoring and surveillance, the risk is growing that they will detect misconduct by employees and customers that has gone undetected by a company’s own internal systems.
17 July 2020
Sustainable finance in Hong Kong: HKMA shares initial thinking on supervisory approach and range of practices by banks
The Hong Kong Monetary Authority ( HKMA ) has recently published its White Paper on Green and Sustainable Banking , as well as a circular to share a range of practices adopted by major authorised institutions ( AIs ) for managing climate risks ( 7 July Circular ). These form part of a series of...
09 April 2020
Exploring Opportunities: Managing competition issues whilst allowing businesses to collaborate (Australia)
The COVID-19 pandemic has resulted in a rush of applications to the ACCC seeking to authorise coordination as between competitors which might otherwise contravene provisions of the Competition and Consumer Act ( CCA ) .
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 [2019] 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...
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20 January 2022
How to get a Unitary Patent
Enhanced cooperation under Regulation 1257/2012 of 17 December 2012 implementing enhanced cooperation in the area of unitary patent protection was used to establish the unitary patent (UP). Also termed the European patent with unitary effect, the UP will be a single patent right covering all the...
20 January 2022
UPC: Jurisdiction and "opt-out"
Once the Unified Patent Court (UPC) comes into effect, and after the transitional period of 7 years (at least), the court system will have exclusive jurisdiction over UPs and all EPs designated to participating EU Member States (unless these EPs have been opted out of its jurisdiction). The UPC...
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.
20 January 2022
WHICH STATES ARE IN THE UPC & WHERE WILL A UP HAVE EFFECT?
26 EU Member States participated in the enhanced cooperation procedure to establish the unitary patent (including the UK which has now withdrawn). However unless these states have also ratified the Unified Patent Court Agreement (UPCA) then the unitary patent (UP) will not be effective in their...
20 January 2022
UPC Structure – local, regional and central divisions
The UPC will have a Court of First Instance (divided into local, regional and central divisions) and a Court of Appeal (Luxembourg). Cases will commence in any one of these divisions according to the subject matter and the prescribed division set out in the UPC Agreement and the UPC Rules .
20 January 2022
UPC: Costs and Fees
Following a lengthy consultation, the Preparatory Committee for the Unified Patent Court (UPC) published its Rules on Court fees and recoverable costs ( the Rules ) along with Guidelines for the determination of value–based Court fees and the ceiling of recoverable costs of the successful party (...
20 January 2022
The UPC and the UP: Impact on patent portfolios and licensing
Our article on the impact of the UP and the UPC on the management of patent applications, patent portfolios in general and licensing: " The New Unitary Patent Regime – Prepare and Protect your Portfolio " published in PLC Magazine is available as a pdf from this link and also on Practical Law .
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.