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K&L Gates LLP

September 2024 ESG Policy Update – Australia

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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

K&L Gates LLP

July 2024 ESG Policy Update—Australia

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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

Jones Day

Australian Financial Services Regulatory Update | January-June 2024

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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

K&L Gates LLP

April 2024 ESG Policy Update—Australia

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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

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Not That FAR Away

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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

K&L Gates LLP

March 2024 ESG Policy Update—Australia

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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

Jones Day

Australian Financial Services Regulatory Update | Q3–Q4 2022

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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

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Australian Financial Services Regulatory Update - June 2022

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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

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Australian Financial Services Regulatory Update - December 2021

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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

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Australian Financial Services Regulatory Update - July 2021

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This edition of the Update covers: Key Legal and Regulatory Developments Financial Markets The Australian Regulators Reiterate Their Expectations for a Smooth Transition Away From LIBOR On 4 June 2021, ASIC, APRA, and the RBA...more

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ASIC Doubles Down on Civil Penalty Proceedings Against Industry Superannuation Funds

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REST and Statewide Superannuation become the first industry superannuation funds to be caught in the crosshairs of ASIC's "why not litigate" approach to enforcement. The Australian Securities and Investments Commission...more

K&L Gates LLP

Foreign Financial Services Providers – Only 13 Months Remain to Choose Australian Regulatory Options

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As many global financial services organisations know, the Australian Securities and Investments Commission (ASIC) during 2020 finalised its Regulatory Guidance for Foreign Financial Services Providers (FFSPs) to transition to...more

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Australian Financial Services Regulatory Update - February 2021

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This edition of the Update covers: 1. Recent legal and regulatory developments, including the release of APRA's policy and supervision priorities for 2021, the launch of APRA's Cyber Security Strategy 2020 – 2024,...more

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Australian Financial Services Regulatory Update - September 2020

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This edition of the Update addresses: 1. Recent legal and regulatory developments which relate to licencing and regulatory relief, consumer protection, financial markets, anti-money laundering and capital and prudential...more

A&O Shearman

Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry: Key Themes in the...

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The final report (the Report) of the Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (the Royal Commission) was released on 4 February 2019. The Report provides 76...more

K&L Gates LLP

ASIC Proposes New Foreign Licensing Regime

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On 1 June 2018, the Australian Securities and Investments Commission (ASIC) announced that it is proposing to implement a modified form of an Australian Financial Services Licence (AFS Licence) for Foreign Financial Service...more

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Australian Government Releases Draft of Private Sector Whistleblower Protection Law

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The Situation: Currently, limited protections exist in Australia for private sector whistleblowers against victimization and detrimental treatment. The Development: The Australian government has released draft law that...more

K&L Gates LLP

Cyber Resilience for Financial Services Entities

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In March this year, the Australian Securities and Investments Commission (ASIC), issued Report 429 Cyber resilience: Health check (REP 429). The report aims to highlight the importance of cyber resilience for entities...more

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