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2 months ago | 
herbertsmithfreehills.com | Michael Vrisakis |Fiona Smedley |Andrew Eastwood |Luke Hastings
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2 months ago | -or-not-to-be-(successful)--appealing-afca-determinations&sz=64)
herbertsmithfreehills.com | Michael Vrisakis |Hugh Paynter |Tamanna Islam |Isabel Chong
The Australian Financial Complaints Authority (AFCA) is tasked with reviewing the internal dispute resolution outcomes of financial services providers for unreasonableness or unfairness.
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Sep 13, 2024 | 
fssuper.com.au | Michael Vrisakis |Maged Girgis |Andrew Bradley |Tamanna Islam |Hartley Spring
This paper explores and seeks to demystify intrafund advice (IFA) and to provide well-needed legal illumination. It does so by identifying the key legal building blocks that need to be considered to properly understand intra-fund advice. ASIC guidanceThere is not a plethora of guidance around the nature and parameters of intra-fund advice.
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Aug 26, 2024 | 
lexology.com | Michael Vrisakis |Tamanna Islam |Shan-Verne Liew |Isabel Chong
In the wake of recent court decisions, insurers would be well-positioned to explore the benefits and limitations of including a prominent and appropriately balanced checking disclaimer in customer-facing communications, if they do not already utilise this mechanism. Unintentional errors in insurance documentsIt is inevitable that, on occasion, an inadvertent inaccuracy will slip into a customer-facing insurance document, such as a renewal notice, a quote, or a confirmation of transaction.
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Jul 5, 2024 | 
lexology.com | Michael Vrisakis |Maged Girgis |Andrew Bradley |Hartley Spring |Isabel Chong
On 4 July 2024, Treasury agreed to make further amendments to the proposed section 99FA of the Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act) in the Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill 2024 (Cth) (Bill), significantly decreasing the proposed regulatory burden on superannuation trustees regarding when they may deduct financial product advice fees from members’ superannuation.
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Jul 4, 2024 | 
lexology.com | Michael Vrisakis |Scott Donald |Hartley Spring
On 30 May 2024, the Supreme Court of Queensland handed down its decision in Perpetual Trustee Company Limited v Shambrook [2024] QSC 105 (PTCo v Shambrook). The fundamental issue in this case was whether a trustee, in allocating a beneficiary’s funds to a superannuation fund that shared a common parent company with that trustee, breached the rule against conflicts of the trustee’s duty and personal interest (the “no-conflict” rule).
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Jun 11, 2024 | 
lexology.com | Michael Vrisakis |Andrew Eastwood |Hugh Paynter |Tamanna Islam
On 4 June 2024, the Federal Court handed down its decision in Australian Securities and Investments Commission v Web3 Ventures Pty Ltd (Penalty) [2024] FCA 578 (ASIC v Web3 Ventures). This case concerned whether Block Earner, a cryptocurrency product provider, should be relieved of liability for a civil pecuniary penalty order pursuant to section 1317S of the Corporations Act 2001 (Cth) (Corporations Act).
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Apr 12, 2024 | 
mondaq.com | Michael Vrisakis |Fiona Smedley |Andrew Eastwood |Luke Hastings
In this episode, join Partner Peter Jones, Regional Head of Emerging
Technology (APAC) Susannah Wilkinson, Senior Associate Anjelica Balis and Solicitor Nayan Bhathela as they explore the impact of
quantum computing on the financial services sector.
Soundcloud | Spotify | Apple
Our "FSR GPS" podcast series explores topical and
emerging issues in financial services regulation that are of
strategic importance for our clients and the financial services
sector more broadly.
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Apr 11, 2024 | 
mondaq.com | Michael Vrisakis |Tamanna Islam |Shan-Verne Liew |Lana Ou
In this edition of the FSR GPS, we explore key principles for
financial services businesses to consider when considering the use
of a disclaimer to mitigate false, misleading or deceptive
conduct.
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Apr 3, 2024 | 
mondaq.com | Michael Vrisakis |Tamanna Islam |Shan-Verne Liew |David Kim
In the recent decision of ASIC v Auto & General Insurance Company
Limited [2024] FCA 272 (ASIC v Auto &
General), the Federal Court of Australia considered the
application of the unfair contract terms (UCT)
regime in the context of insurance, holding in favour of the
insurer.
