21 July 2020
Can predictive analytics prevent employee misconduct?
With predictive policing and crime forecasting gaining attention, although not always good, it is not surprising that businesses are considering how to deploy analytics in their fight against employee misconduct. Certainly, financial regulators have encouraged organisations to become more...
21 July 2020
Digital forensics in investigations and the growing data burden
The approach to digital forensics in investigations is constantly evolving to keep pace with the increasing volume, velocity and variety of data within organisations. Almost every action we take leaves a digital trail and the type of information businesses are collecting, both internal and external...
21 July 2020
Big data and modern slavery
While the benefits of data and technology can be leveraged to aid businesses with modern slavery compliance and due diligence, businesses should not lose sight of the risks involved with overreliance on these tools. Despite the promise of more informed decision making, big data is not without its...
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...
15 June 2020
Pressure Points: Compliance and governance in financial services in the age of Covid-19 (Australia)
This article is the third in a series by our financial services team which will explore the practical implications of Covid-19 on the financial services industry and our clients' businesses, following our articles on disclosure and operational issues . This edition will examine how the standards,...
09 June 2020
Governance: Corporate Insolvency and Governance Bill: impact on supply chains and their customers (UK)
Update ; The Corporate Insolvency and Governance Act 2020 commenced into effect on 26 June 2020. While the final provisions of the Act largely reflected the drafting of the original Bill, certain amendments were made including to: (i) improve the information available to certain pensions creditors...
04 June 2020
COVID 19: Pressure Points: Operational disruption in financial services in the age of COVID-19 (Australia)
This article is the second in a series by our financial services team which will explore the practical implications of COVID-19 on the financial services industry and our client’s businesses.
14 May 2020
COVID-19: Governance: Update for fund managers (Australia)
In this update we cover two more important Australian developments for fund managers in light of the COVID-19 pandemic: an announcement from the Treasurer of a six months’ delay to the implementation of the Banking Royal Commission reforms consulted on in Jan-Feb 2020; and an announcement from the...
21 April 2020
First judicial challenge to ASIC’s use of its new product intervention power fails
On 15 April 2020 the Federal Court confirmed 1 that a judicial review application lodged in September 2019 to challenge ASIC’s exercise of its new product intervention power ( PIP ) had failed. The judicial review challenge related to a class wide intervention in relation to short term credit...
20 April 2020
Changes for AFSL applicants and updates for foreign AFSL applicants, including guidance on the ‘fit and proper person’ test
The Australian Securities and Investments Commission ( ASIC ) has made important changes to the requirements for new and current applicants for a ‘full’ Australian financial services license ( AFSL ) and a ‘foreign’ AFSL. By updating Information Sheet 240 ( INFO 240 ), Regulatory Guide 105 ( RG 105...
07 September 2020
London International Disputes Week 2020
We are pleased to announce that London International Disputes Week (LIDW) is returning for a second year in September 2020. Herbert Smith Freehills is proud to be associated with this key event, which celebrates London as a global centre for dispute resolution. 7 – 11 September 2020 For more...
05 August 2020
Inside tech webinar series
Welcome to our Inside Tech webinar series. A series of TMT webinars covering topics such as fintech, digital infrastructure, healthtech, and growth and investments in Asia Pacific. New themes and episodes will be added regularly. To join a live webinar session, please register and save the calendar...
04 August 2020
Comparing the fault standards in Australian and UK shareholder class actions
Continuous disclosure obligations applicable to shareholder class action claims have been the subject of much debate in Australia in recent years. Recent amendments to the continuous disclosure provisions of the Corporations Act 2001 (Cth) are intended to reduce opportunistic shareholder class...
03 August 2020
Governance: CORPORATE INSOLVENCY AND GOVERNANCE ACT 2020 - SOUNDBITE SERIES (UK)
Welcome to our soundbite series on the new Corporate Insolvency and Governance Act 2020 which came into effect on 26 June 2020. The provisions of the Act are complex and could have significant impact on companies in distress and their creditors, particularly landlords, suppliers, financial services...
30 July 2020
Funded class actions under the spotlight: Australian Federal Government introduces new regulations
On 24 July 2020, the Australian Federal Government introduced new regulations, removing the ‘managed investment scheme’ ( MIS ) and other financial services regulatory exemptions that apply for litigation funding schemes used in class actions.
30 July 2020
Human rights arguments increasingly deployed in climate change litigation
There has been a significant rise over the past five years in the number of climate change claims that have been based (at least in part) on human rights principles, according to the latest report from the London School of Economics Grantham Research Institute on Climate Change and the Environment...
29 July 2020
Pressure points: Trustees and administrators prepare for what’s ahead: Ombudsman to see a rise in complaints due to Covid-19 (UK)
The Pensions Ombudsman recently published both its Corporate Plan 2020-2023 and Annual Report for 2019/2020, which reveal that the number of enquiries the Ombudsman received has significantly increased in the last year. In addition, the Ombudsman expects the number of complaints to “undoubtedly”...
28 July 2020
UK autonomous sanctions underline importance of human rights due diligence
The importance of human rights and robust human rights due diligence was underlined earlier this month, by the UK government’s introduction of the Global Human Rights Sanctions Regulations 2020 (the “ Sanctions Regulations ”). The Sanctions Regulations are the UK’s first autonomous sanctions...
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.
27 July 2020
Webinar: Workplace manslaughter developments in Australia – A national snapshot
Nearly all Australian States and Territories have approached the law around Workplace Manslaughter differently, in a further departure from the proposed ‘harmonisation’ of safety laws. The introduction of these very serious criminal offences is the topic of discussion in boardrooms, executive teams...