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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.
22 May 2020
Insurance articles for The In-House Lawyer magazine, Spring 2020 edition
The insurance team at Herbert Smith Freehills has contributed two articles to the latest edition of The In-House Lawyer magazine. The articles consider important insurance issues that in-house lawyers should be aware of, especially in the current market.
29 April 2020
COVID-19: Pressure Points: Insurance – Measures to bolster trade credit (Spain)
The Spanish Government has – with the approval of Royal Decree-law 15/2020, of 21 April, on additional measures to bolster the economy and employment (“RDL 15/2020”) – authorised the Consorcio de Compensación de Seguros (“CCS”) to reinsure entities operating in credit and surety insurance. The...
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...
19 March 2020
Covid-19: Pressure Points: Business interruption and event cancellations. What are the possible insurance implications? (Updated 19 March) (Global)
COVID-19 has been affecting life and businesses around the globe. The developments over the last few days have been moving fast: the World Health Organisation declared the disease as pandemic, COVID-19 has now been categorised by various governments (including those of the United Kingdom) as a...
12 March 2020
ASIC Proposes New Guidance on Ongoing Fee Arrangements
ASIC is proposing to issue guidance on how it will regulate ongoing fee arrangements ( OFAs ). Depending on the position it takes, these arrangements, which have been challenging for the advice industry to comply with since they were introduced as part of the Future of Financial Advice reforms,...
06 February 2020
Australian privacy law reform and review announced
On 12 December 2019, the Australian Government announced its response to the Australian Competition & Consumer Commission’s ( ACCC ) Digital Platform Inquiry. Despite the Inquiry’s name, only 1 of the 11 recommendations in the report about data practices is targeted at digital platforms.
06 February 2020
Insurance and Reinsurance Disputes annual review 2019
We are pleased to share with you our Insurance and Reinsurance Disputes Annual Review of 2019, published today, which provides an overview and analysis of the key cases and developments affecting those engaged in or with contentious matters in the insurance and reinsurance market.
24 January 2020
Financial Accountability Regime to introduce obligations on RSE licensees and insurers
Reforms proposed by the Government this week will impose significant obligations on registrable superannuation entity licensees and insurers. These reforms will also have implications for banks that are already subject to the Banking Executive Accountability Regime ( BEAR ).
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 [2019] 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...
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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...
03 July 2020
People: Post-lockdown issues for employers (UK)
On 11 May 2020 the UK Government published its roadmap for coming out of lockdown, providing for a (conditional) phased return of schools and businesses over the coming months and subject to continuing social distancing requirements. Most businesses and venues (except for certain close contact...
03 July 2020
Pressure Points: Key actions checklists for trustees and sponsors of DB schemes (UK) - Updated
Current events related to Covid-19 and the related economic impact are raising a number of time critical issues that sponsors and trustees of defined benefit schemes need to address. To help with this, we have created checklists (based on our experience advising clients to date) which summarise the...
03 July 2020
People: Key actions checklists for trustees and employers of DC schemes (UK) - Updated
Current events related to Covid-19 and the related economic impact are raising a number of time critical pensions-related issues that employers with defined contribution (DC) schemes and trustees of such schemes need to address. To help with this, we have created checklists (based on our experience...
02 July 2020
Woolworths spam receives unwelcome attention
The Australian Communications and Media Authority ( ACMA ) reported on the 2 July that Woolworths Group Limited has paid a million-dollar infringement notice and agreed to a court-enforceable undertaking in response to breaches of spam laws. The infringement notice for $1,003,800 is the largest...
02 July 2020
Pressure points: Trustees beware – Changes to UK insolvency regime are now in force (UK)
The Corporate Insolvency and Governance Act 2020 received Royal Assent and is now in force. The Act contains the most far-reaching reforms to UK insolvency law in over 30 years. The Act has been introduced on an emergency basis in an attempt to ensure that otherwise financially viable companies...
02 July 2020
Foreign Investment: Rising Tides of Politics in Regulation - Updated Report
We are delighted to share with you our newly updated report on Foreign Investment: Rising Tides of Politics in Regulation, which reflects a swathe of recent changes to Foreign Direct Investment ( FDI ) regimes around the world against the backdrop of the Covid-19 pandemic.
01 July 2020
People: Job Retention Scheme and Pensions (UK)
The Coronavirus Job Retention Scheme ("CJRS"), opened for claims on 20 April. Originally due to end on 31 May, then 30 June, the Chancellor announced on 12 May that it will remain in place and available to all sectors through to the end of October 2020. New rules, which will apply from 1 July 2020...
01 July 2020
Pressure Points: Corporate real estate: a post-Covid-19 perspective (UK)
Revival signs in real estate M&A The Covid-19 pandemic caused a noticeable slowdown in real estate M&A activity. Despite this, there are early signs in the market of a bounce back. Opportunistic/strategic deals are still completing and many investors have capital reserves ready to be...
30 June 2020
Saving millions of shareholder dollars and forests of trees is easier than you think
How often do those of us in M&A and in-house legal and company secretariat teams have an opportunity to save trees and millions of shareholder dollars? The recent temporary changes to the Corporations Act in response to the challenges posed by COVID-19 facilitate this by allowing notices of...
30 June 2020
REACTIVACIÓN: Análisis del Real Decreto Ley 23/2020, de 23 de junio: su impacto en renovables (España)
El 24 de junio se publicó en el Boletín Oficial del Estado, el Real Decreto-Ley 23/2020, de 23 de junio, por el que se aprueban medidas en materia de energía y en otros ámbitos para la reactivación económica (“RDL 23/2020”). Este Real Decreto-Ley entró en vigor el 25 de junio de 2020, si bien debe...
29 June 2020
COVID-19: Pressure Points: The Global Impact on the Mining Industry
The COVID-19 pandemic is an unprecedented humanitarian and economic crisis. The mining industry has sought to respond quickly to protect the health of its employees and its communities. These steps are in response to (and often ahead of) emergency measures and lockdowns implemented by governments...
