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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...
21 July 2021
How much detail of potential claims is needed prior to renewal?
When it comes to renewing “claims made and notified” policies (such as D&O insurance and Professional Indemnity), policyholders must be careful to disclose full details of any facts known to them which have the potential to give rise to a claim, otherwise they run the risk of disentitling...
07 July 2021
Amendments to the General Insurance Code of Practice – Will they achieve a more policyholder-friendly approach by insurers?
The new General Insurance Code of Practice came into effect on 1 July 2021, amending the 2015 version which was first introduced in 1994. The changes have been introduced following an industry-wide review and have the stated aim of strengthening policyholders’ rights.
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In April of this year, we wrote about draft guidance released by the Australian Securities and Investments Commission (ASIC) on the significant impending changes to Australia’s breach reporting regime.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 May 2021
Australian Consumer Law marks 10 years with some large penalties
The Australian Consumer Law marked its tenth anniversary on 1 January 2021. Some belated presents were recently delivered in the form of the confirmation of, and the handing down of, Australia’s two largest ever penalties for contraventions of the Competition and Consumer Act 2010 (Cth) ( CCA ).
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).
31 March 2021
Policyholder successfully challenges insurer’s refusal to cover ‘securities claim’
In good news for policyholders defending class actions, the Federal Court of Australia has rejected an insurer’s arguments that a class action settlement was not covered because: the units in an ASX-listed trust the subject of the proceedings were not “securities”; and the proceedings arose from...
11 February 2021
Insurance and Reinsurance Disputes annual review 2020
We are pleased to share with you our Insurance and Reinsurance Disputes Annual Review of 2020, 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.
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31 January 2022
Paula Hodges QC to participate in event celebrating 25 years of the English Arbitration Act
The Arbitration Act 1996 came into force on 31 January 1997. Exactly 25 years later, this event will celebrate its success and consider what the future may hold for the Act. There will be an afternoon of presentations offering differing perspectives, past and present, as well as a debate " This...
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 .
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
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
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.