Financial Institutions - Page 2 of 4

Thought Leadership

New Zealand Insurance Market Trends Update 2025: The key developments shaping the industry in Aotearoa

In a rapidly changing landscape, staying informed is essential to navigating the complexities of New Zealand’s insurance market. That’s why we’ve released our New Zealand Insurance Market Trends Update 2025 – a comprehensive analysis of the key developments shaping the industry in Aotearoa. Packed with valuable insights, the report delves into emerging legal trends, evolving […]

By : Joshua Weiler Feb 27, 2025 Comments Off

Articles, Case Alerts

Davis v Wilson: The bar for successful shareholder class actions gets higher and higher

By: Amanda Beattie and Zoe Jones At a glance Following its decisions in other shareholder class actions late 2023 and 2024, the Federal Court has handed down yet another unfavourable decision for shareholders (Davis v Wilson [2025] FCA 108). The claim alleged that Quintis’ CEO, Frank Wilson, and its auditor, Ernst & Young, engaged in […]

By : Joshua Weiler Feb 26, 2025 Comments Off

Articles, Case Alerts

Full Federal Court backs privilege protections in voluntary disclosures to ASIC

By: Amanda Beattie and Gavin Davies. At a glance The Full Federal Court has determined that disclosure of a privileged expert report to ASIC in accordance with a voluntary disclosure agreement (VDA) did not amount to a waiver of privilege. This decision restores confidence in VDAs as a valuable tool for companies cooperating with ASIC […]

By : Joshua Weiler Feb 11, 2025 Comments Off

Articles, Case Alerts

ASIC v Union Standard International Group Pty Ltd – the extra-territorial reach of an Australian Financial Service Licensee’s obligation to act efficiently, honestly and fairly

By: Cain Jackson and Samantha Younane ASIC v Union Standard International Group Pty Ltd (No 4) [2024] FCA 1481 At a glance The Federal Court has determined that the obligation to act efficiently, honestly and fairly extends to services provided to clients outside Australia. The decision highlights risks for AFSLs providing products like CFDs to […]

By : Joshua Weiler Jan 20, 2025 Comments Off

Articles

Get to know Thomas Cavanagh, new partner and financial services specialist

What made you decide to become a lawyer? Other than the usual desire to argue a point with everyone and shows like Boston Legal (aged very poorly, I know), I like the fact that the law is not actually made up of rigid principles but rather can be moulded to suit particular circumstances, and that’s […]

By : Anja Vogel Nov 3, 2023 Comments Off

Articles

Climate reporting gains momentum with release of draft sustainability accounting standards

At a glance On 23 October 2023, the AASB released its Exposure Draft ED SR1 Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information to propose climate-related financial disclosure requirements. The Exposure Draft includes two draft Australian Sustainability Reporting Standards relating to financial disclosure. The proposed standards have been developed for the Australian market […]

By : Anja Vogel Oct 27, 2023 Comments Off

Articles

Are CFDs ever a good idea for insurers (or investors)?

The short answer to both questions is no – most of the time. In the words of Beach J of the Federal Court, CFDs are “little more than gambling”. ASIC has also identified that more than 70% of retail clients who trade CFDs lose money. For insurers of financial institutions and professional advisors, CFDs create […]

By : Anja Vogel Jul 17, 2023 Comments Off

Articles

Treasury consults on new crypto asset licensing regime

On 21 March, the Treasury released a consultation paper about the regulation of secondary service providers of cryptocurrency assets (CSSPs). The consultation paper highlights the current ‘patchwork’ nature of regulation of crypto assets, noting that some crypto assets may already be subject to the existing Australian Financial Services (AFS) or consumer law frameworks. The paper […]

By : Anja Vogel Mar 23, 2022 Comments Off

Articles

The Financial Markets Authority speaks!

Conduct and Culture Two – this time its Fire and General The Financial Markets Authority has released its Insurance Conduct and Culture: Fire and General Insurers Update. The report is a key indicator of the regulator’s views of the industry in the context of the suite of regulation that is coming into full force in […]

By : Anja Vogel Sep 21, 2021 Comments Off

Articles

Draft amendments to the UCT legislation

The expected changes to the UCT legislation are nearly upon us and have now been released in draft form. The purpose of the draft release is to provide a snapshot of the changes if the bill is passed and provide interested parties the opportunity to consult with the Treasury on the same. Given the bill […]

By : Anja Vogel Sep 8, 2021 Comments Off

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