Priscilla Bryans

Sep 21, 2023 | lexology.com | Priscilla Bryans |Andrew Eastwood |Bianca Marcocci |Charles Pitney |Suzannah Hewson

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, the Federal Court of Australia ruled that Mr Frank Wilson did not breach his duty despite failing to disclose the termination of material customer contracts to the Quintis Board and the ASX.

Aug 24, 2023 | mondaq.com | Alice Molan |Charlotte Henry |Priscilla Bryans |Anna Coroneo

In July 2023, ASIC and APRA released key materials for consultation, to support the implementation of the Financial Accountability Regime (FAR) by the financial services industry. This included the proposed Regulator Rules and the 'Key Functions' descriptions for ADIs (Consultation Documents). Our team has made a formal submission on this consultation.