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...
22 November 2019
CDR: Challenges and Opportunities in the Superannuation Sector
The Senate Select Committee on Financial Technology and Regulatory Technology (the Committee ) is considering the current and future government approach to FinTech and RegTech in Australia, and is inviting submissions until 31 December 2019.
06 November 2019
To infinity and beyond: The Fairness Doctrine
The implications of the recent Full Federal Court decision in ASIC v Westpac Securities Administration Limited  FCAFC 187 ( ASIC v Westpac ) are far-reaching for the financial services industry. The case is, of course, a significant development in the laws concerning the parameters of general...
09 October 2019
The hidden legal risks in Australian super fund mergers
The contemporary resurgence of super fund mergers presents a material risk of claims against directors of super fund trustees, if trustees are not undertaking appropriately sophisticated diligence exercises that take account of the complexity of modern portfolios.
09 October 2019
A leadership role for super funds in solving Australia’s energy trilemma?
On 29 June 2019, Industry Super Australia ( ISA ) released its Modernising Electricity Sectors Discussion Paper (the Paper ) 1 which seeks to assist super funds in understanding and navigating the regulatory uncertainty in investing in the Australian electricity sector. More specifically, it aims “...
28 May 2019
Australian Federal Election Reforms Podcast
As part of Herbert Smith Freehills’ series on the employment and industrial relations reforms leading up to the Australian federal election, the inaugural podcast focuses on the Australian Labor Party’s policy platform. Future podcasts will focus on specific subject areas in more details.
08 April 2019
Superannuation Fund Governance Post-Hayne: Part Three
The purpose of super, community expectations and the interests of members The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was charged with inquiring into, and reporting on, ‘whether any conduct of financial services entities might have amounted to...
19 March 2019
Superannuation Fund Governance Post-Hayne: Part Two
Conduct and Culture The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was charged with inquiring into, and reporting on, ‘whether any conduct of financial services entities might have amounted to misconduct and whether any conduct, practices,...
22 February 2019
Superannuation Fund Governance Post-Hayne: Part One
Institutional Structures The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was charged with inquiring into, and reporting on, ‘whether any conduct of financial services entities might have amounted to misconduct and whether any conduct, practices,...
25 January 2023
M&A STANDPOINT: Formal sale processes: A useful tool to solicit offers or a last resort?
FSPs were created to encourage a competitive and confidential sale process under the Takeover Code, but often they may signal that a company has run out of options. However, a number of companies have elected to launch FSPs in recent months, so when is an FSP is the right choice for a company?
24 January 2023
Global M&A Outlook 2023: Automotive Electric and digital revolutions still drive M&A
The automotive sector is currently experiencing two inflection points at the same time: an electric vehicle revolution, as the industry transitions from the internal combustion engine (ICE) to zero emission vehicles (ZEV) including battery electric vehicles (BEV) as part of the wider...
24 January 2023
Global M&A Outlook 2023: Consumer 2022 was a challenging year compared to 2021
M&A in the consumer sector slowed throughout 2022 as compared to the buoyant trends in 2021. Macro-economic issues and global headwinds have meant a tougher environment for consumers, particularly with record-breaking inflation adding to the cost of living and turning the screws on household...
23 January 2023
How hard is it? The Takeover’s Panel consults on guidance for exclusivity granted at the non-binding bid stage
Following two Takeovers Panel decisions that found pre-deal exclusivity and other deal protection arrangements to be unacceptable, the Takeovers Panel has now commenced consultation on proposed new guidance on deal protection granted in respect of non-binding proposals. Most importantly, the...
19 January 2023
Register of overseas entities - the countdown is on
The countdown for overseas owners of property in the UK to comply with the tightened register regime following the government's clampdown on economic crime is nearing its conclusion, with less than two weeks to go until the deadline for the submission of applications to Companies House (31 January...