When assessing how to comply with the new reporting obligations, reporting entities should recognise the differences in the enforcement approach that ASIC will take in relation to mandatory climate reporting compared with the...more
The Australian federal government recently released its response to the independent review of Australia's amended continuous disclosure regime (the "Independent Review")....more
In Brief - The Australian Competition and Consumer Commission (ACCC) and Australian Securities and Investments Commission (ASIC) continue to be vigilant and seek significant penalties for alleged "greenwashing" (misleading...more
For years, artificial intelligence (AI) has been deployed in the networking industry to make evaluations and predictions about computer networks for the purpose of improving overall efficiency, performance, and security. ...more
Australian Update - Climate-Related Disclosures Legislation Passed - The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth) passed Parliament on 9 September 2024 and received Royal...more
On 22 August 2024, the Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (the Bill), which requires certain organisations to make mandatory climate-related financial...more
ESG-related enforcement remains a top priority and focus for Australia's corporate regulators. Since our last update, there has been a steady stream of enforcement activity aimed at climate-related representations and...more
In this week’s edition, we discuss a drop in support for ESG shareholder proposals at one of the world’s largest asset managers; a decision by a U.S. federal court to strike down an anti-ESG investing rule in Missouri; and...more
The Development: On August 22, 2024, the Australian Senate passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 ("Bill")....more
Australian Update - Proposed Code of Practice to Reduce Modern Slavery Through Lending, Investment and Asset Management - The New South Wales (NSW) Anti-Slavery Commissioner (Commissioner) recently released its discussion...more
In Brief - Following reforms to the unfair contract terms (UCT) regime on 9 November 2023, the Australian Securities and Investments Commission (ASIC) and the Australian Competition and Consumer Commission (ACCC) are...more
Recognizing a need for clarity in evaluating patent eligibility under 35 U.S.C. § 101 for critical and emerging technologies, including artificial intelligence (AI) innovations, the U.S. Patent and Trademark Office (USPTO)...more
Recent legal and regulatory developments, including the joint release of APRA and ASIC guidance concerning the new Financial Accountability Regime, APRA's announcement that it will publish superannuation expense data to...more
Taylor Swift’s “Eras Tour” was one of the highest grossing music tours of all time with approximate proceeds exceeding US$1 billion. While this is a monumental feat, Taylor Swift also gained negative attention during the tour...more
On 27 March 2024, the Australian Government published the first reading draft of the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (New Bill), which superseded the previous exposure...more
AUSTRALIAN UPDATE - Updated Bill to Introduce Climate-Related Financial Reporting Regime - Background - The Australian Government released the first reading draft of the Treasury Laws Amendment (Financial Market...more
Australian Update - Australian Competition and Consumer Commission Enforcement Priorities for 2024-2025 - The Australian Competition and Consumer Commission (ACCC) has announced its enforcement and compliance priorities for...more
Australia welcomes new business and foreign investment by providing a strong economy, a stable political environment and a skilled and talented workforce. Our comprehensive guide to Doing Business in Australia has been...more
On 27 March 2024, Australia's climate disclosure regime moved a significant step closer to implementation, with the federal government's introduction of proposed legislation into Parliament. Any organisations with a presence...more
On 15 March 2024, the Financial Accountability Regime (FAR) came into effect for authorised deposit-taking institutions (ADIs), replacing the Banking Executive Accountability Regime (BEAR). Unlike the BEAR, application of the...more
Australian Update - Australian Securities and Investments Commission Continues Greenwashing Enforcement Efforts - On 28 February 2024, the Australian Securities and Investments Commission (ASIC) reported that an outsourced...more
Australia continues to be a highly active jurisdiction for climate-related lawsuits. Since our last update in August 2023, we have seen a steady stream of suits commenced against corporations and government bodies in relation...more
The UK has expanded its export controls regime to include a number of key emerging technologies, including in relation to semiconductors and quantum technology. These changes take effect on 1 April 2024, following which an...more
Australian Update - Draft Legislation – Climate-Related Financial Disclosures The Australian Government has released Treasury Laws Amendment Bill 2024: Climate-related financial disclosure, which is draft legislation...more
The Australian securities regulator ASIC is proposing an increase in the threshold limits for so-called “sophisticated investors”. The limits have not been raised since they were introduced in 2001 and now ASIC has suggested...more