In the wake of recent government inquiries into alleged bullying and harassment, including sexual harassment, in Australian workplaces, Australian legislatures and work health and safety regulators have become increasingly...more
Incoming: Mandatory Climate Risk Disclosures in Australia -
The Climate-Related Financial Disclosure Consultation Paper proposes that, commencing with the 2024/2025 financial year, large, listed entities and large...more
The ESG challenges faced by proponents of future resources projects in Australia have been highlighted in recent decisions which have halted the development of proposed coal mines....more
Accelerating Emissions Reductions -
Over the coming weeks and months, the Australian Parliament will debate proposed reforms to important aspects of the country's emissions reduction plans. If enacted, the reforms will...more
This edition of the Update covers:
Recent legal and regulatory developments, including guidance to APRA-regulated entities following the cyber attacks on Medibank and Optus, the release of the inaugural Climate...more
California Enacts Sweeping Climate Measures -
On September 16, 2022, California Governor Gavin Newsom signed a broad legislative package into law that aims to aggressively address climate change. The material aspects of...more
Three recent actions highlight an emerging trend of First Nations peoples bringing climate-related claims. Recent decisions in two of these actions have set significant precedents both in Australia and internationally. The...more
In Short -
The Situation: Significant climate law reforms came into force in Australia on 15 September 2022, with the commencement of the Climate Change Act 2022 (Cth) ("Climate Change Act") and the Climate Change...more
This edition of the Update covers: -
Recent legal and regulatory developments, including the commencement of cyber security incident notification obligations for critical financial market infrastructure assets, AUSTRAC's...more
REGULATORY ISSUES & UPDATES -
European Taxonomy Regulation Extended to Natural Gas and Nuclear Energy -
The regulation is likely to create new opportunities for natural gas and nuclear energy in the European Union,...more
With a change of Australia's federal government in May 2022, there has been a radical shift in the country's position on climate change mitigation and the energy transition. The new Labor government has committed to a carbon...more
In Short -
The Situation: The Australian Securities and Investments Commission ("ASIC") has released guidance to superannuation and managed funds as to how to avoid the risk of greenwashing when promoting...more
This edition of the Update covers:
Recent legal and regulatory developments, including the release of regulatory guidance on crypto asset-related investment products, the imposition of additional licence conditions on the...more
On 9 February 2022, the Australian High Court heard two appeals together—Construction, Forestry, Maritime, Mining and Energy Union & Anor v Personnel Contracting Pty Ltd [2022] HCA 1 ("Personnel") and ZG Operations Australia...more
3/3/2022
/ Australia ,
Employee Definition ,
Employees ,
Employer Liability Issues ,
Employment Contract ,
Employment Litigation ,
Gig Economy ,
Hiring & Firing ,
Independent Contractors ,
International Labor Laws ,
Labor Reform ,
Misclassification ,
Wage and Hour
ASIC's Approach to CEUs Prior to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry ("Royal Commission"), ASIC routinely accepted CEUs as a form of administrative settlement...more
On 4 November 2021, the Federal Court of Australia made orders by consent which require the Commonwealth Bank of Australia ("CBA") to permit the plaintiff shareholders to inspect and make copies of books and records that...more
The Applicant's Claims -
In July 2020, Ms. Kathleen O'Donnell commenced a representative proceeding on her own behalf and on behalf of all persons who at any time on or since 7 July 2020 have acquired certain types of...more
This edition of the Update covers:
KEY LEGAL AND REGULATORY DEVELOPMENTS
Regulatory Priorities
ASIC and APRA Release Their Corporate Plans for 2021-25
On 26 August 2021, the Australian Securities & Investments Commission...more
12/1/2021
/ AML/CFT ,
ASIC ,
Australia ,
Criminal Investigations ,
Cybersecurity ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Financial Institutions ,
Financial Markets ,
Financial Regulatory Reform ,
Financial Services Industry ,
Libor ,
Loans ,
Popular ,
Prudential Standards ,
Regulatory Agenda
The Western Australian Government has introduced a mandatory COVID-19 vaccination policy across three groups of industries and occupations, which covers up to 75% of the State's workforce. ...more
11/19/2021
/ Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Emergency Management Plans ,
Employer Liability Issues ,
Employer Mandates ,
Employment Policies ,
Essential Workers ,
Health and Safety ,
Infectious Diseases ,
Public Health Emergency ,
Vaccinations ,
Workplace Safety
Just days out from the 26th United Nations Climate Change Conference of the Parties ("COP26"), the Australian government has pledged to reduce greenhouse gas ("GHG") emissions to net zero by 2050. While Australia has been...more
Proceedings filed by public interest group Environment Victoria represent the first climate change litigation in Australia to challenge the licence to operate of coal-fired energy producers. A public interest group has filed...more
10/6/2021
/ Australia ,
Carbon Emissions ,
Climate Change ,
Coal Industry ,
Coal-Fired Plants ,
Energy & Climate Debates ,
Energy Policy ,
Energy Projects ,
Environmental Policies ,
Greenhouse Gas Emissions ,
Licensing Rules ,
Pollution Control ,
Power Infrastructure ,
Regulatory Agenda ,
Victorian Supreme Court
Overhaul of ASIC's Internal Governance Framework ASIC's Corporate Plan for 2021-25 is the first of its kind released under new Chair Joseph Longo and new Deputy Chair and Head of Enforcement Sarah Court, who each started in...more
The Facts In April 2020, a climate action group called Bushfire Survivors for Climate Action Incorporated ("BSCA") filed civil enforcement proceedings against the EPA in the NSW Land and Environment Court....more
9/9/2021
/ Australia ,
Breach of Duty ,
Climate Action Plan ,
Climate Change ,
Environmental Claims ,
Environmental Policies ,
Global Warming ,
Regulatory Agencies ,
Regulatory Agenda ,
Regulatory Reform ,
Statutory Requirements
On 26 August 2021, the Australasian Centre for Corporate Responsibility ("ACCR") initiated proceedings against Australian gas-producer Santos Limited, challenging statements and policies which the ACCR considered...more
BEAR, which came into effect throughout 2018 and 2019, imposed extensive accountability obligations on ADIs and expanded APRA's enforcement powers. You can read our previous Commentary on BEAR here. ...more