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01 November 2022
Retail access for virtual assets – risky business or radical open-mindedness?
Hong Kong’s Fintech Week 2022 began with a crypto-infused bang with keynote speeches from the Government and financial regulators embracing the financial innovation made possible by virtual assets (VAs). Recognising that VAs are here to stay, Hong Kong has proposed to recalibrate the existing legal...
22 August 2022
The devil is in the detail: Federal Court of Australia rejects insurance claim for ransomware attack
Like all forms of insurance, the cover actually provided by policies which might be thought to cover losses arising from ‘cyber risk’ depends on the precise terms of the policy. Before placement, those terms should be carefully considered to ensure the cover is appropriate for the policyholder, in...
11 August 2022
When notification and disclosure collide
A claim under a Directors and Officers liability policy for investigation, defence and settlement costs has ended with the New South Wales Supreme Court 1 allowing some claims but denying others. The decision is a reminder of the importance of robust internal insurance reporting processes, and of...
05 August 2022
Australian regulator consults on new operational risk management prudential standard
The Australian Prudential Regulation Authority ( APRA ) has released its consultation on a new cross-industry prudential standard for operational risk management, CPS 230, which proposes to introduce a range of new requirements on APRA-regulated entities for managing operational risk and enhance...
12 July 2022
Australian court rejects insurance declinature, highlighting complexity of non-disclosure issues
A recent decision of the New South Wales Supreme Court 1 demonstrates the scepticism with which courts will view insurers who say they would have acted differently had certain material been disclosed to them.
06 May 2022
AUSTRALIAN REGULATOR WINS CASE AGAINST FINANCIAL SERVICES LICENSEE FOR INADEQUATE MANAGEMENT OF CYBER RISKS
For the first time in Australia, the Federal Court has found that a failure to adequately manage cybersecurity risks constitutes a breach of general Australian financial service license ( AFSL ) obligations.
24 February 2022
Covid-19 Business Interruption Insurance – Insurers Win Appeals in Second ICA Test Case and Star Casino Claim
The Full Court of the Federal Court of Australia (3 judges) has generally confirmed the first instance decisions in the Second ICA Test Case 1 and the Star Casino Claim 2 – largely agreeing that the insurers are not liable for certain claims arising from COVID-19 related interruptions to business.
17 February 2022
The Big Red Bash fails to recover under Event Cancellation insurance following COVID-19 related cancellation
The Federal Court of Australia has upheld the denial of an event cancellation insurance claim based on a communicable disease exclusion which was held to apply, despite there being no directive to the festival itself and no sign of COVID-19 in the vicinity of the festival venue itself.
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22 September 2023
Age Verification Roadmap – key updates on the regulation of online safety and age verification
The release of the eSafety Commissioner’s Roadmap for Age Verification and the Australian Government’s response puts a pause on mandatory age verification, but signals a focus on further regulatory reform.
21 September 2023
#FDIFriday – the Global Foreign Direct Investment podcast series
Our latest #FDIFriday podcast series brings together experts from our Global Foreign Investment Regulation Group to discuss the rapidly-evolving FDI regulatory landscape in accessible, digestible podcast episodes to help clients and our wider network keep abreast of the latest developments in this...
21 September 2023
Edinburgh International Arbitration Festival (#ArbFest2023)
Herbert Smith Freehills is a proud sponsor of the inaugural Edinburgh International Arbitration Festival, hosted by the Scottish Arbitration Centre. The event will be held on 21 and 22 September 2023, a year on from the record-breaking International Council for Commercial Arbitration (ICCA)...
21 September 2023
Australian Federal Court finds in favour of former Quintis CEO in directors duties case brought by regulator
The Australian Securities and Investments Commission ( ASIC ) has failed in its action against the former CEO & Managing Director of Quintis Limited ( Quintis ) for alleged breaches of section 180 of the Corporations Act (the duty to act with care and diligence). Following a four-week trial,...
19 September 2023
Australian Employment, Industrial Relations and Safety Webinars
In case you missed it, you can access our previous Employment & IR briefing and Safety Leadership Series webinars below. Join our expert briefings for the latest developments we are seeing in the employment, industrial relations and workplace healthy and safety space. In these short sessions,...
14 September 2023
Talking Shop: A consumer sector podcast series
Expert insights for navigating the big trends and key issues redefining the global consumer sector. From rampant digitisation and supply chain reinvention to sustainability and geopolitical factors, the consumer sector is fast-evolving to meet the challenges – and opportunities – facing companies...
14 September 2023
King's College London International Construction Arbitration Conference 2023
King's College London International Construction Arbitration Conference 2023 Centre of Construction Law and Dispute Resolution 14 September 2023, 09:00 to 17:00 Ashworth Centre, The Honourable Society of Lincoln's Inn, London