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ASIC consulting on RG 209 update - Feb 2019

ASIC has announced that it is reviewing and updating the Regulatory Guide 209 which has not been revised in four years. Partner, Andrea Beatty and Lawyer, Gabor Papdi review the suggested changes.

Online small business lenders signing up to AFIA code - Feb 2019

The list of online business lenders who become signatories of AFIA’s Online Small Business Code (Code) of Lending Practice is steadily increasing. Partner, Andrea Beatty and Law Graduate, Chelsea Payne highlight the benefits for small businesses borrowers.

ASIC appealing Westpac subsidiaries ‘personal advice’ Federal Court decision - Feb 2019

An appeal has been filed against the decision regarding Westpac subsidiaries, Westpac Securities Administration Limited (WSAL) and BT Funds Management Limited (BT Funds). Partner, Andrea Beatty and Law Graduate, Chelsea Payne report on the ramifications.

New Whistleblowing laws passed - Feb 2019

The long awaited reforms to Australian whistleblower legislation was passed on 19 February 2019. Partner, Andrea Beatty; Law Graduate, Chelsea Payne and Law Graduate, Danielle Bonanno outline the significance of the reforms and what they signify for companies and individuals.

ASIC provides response to Royal Commission Final Report - Feb 2019

A recent media release by ASIC highlights their response to the Banking Royal Commission. Partner, Andrea Beatty and Law Graduate, Danielle Bonanno, review ASICs level of commitment to the recommendations.

ASIC to pursue harsher penalties with tougher laws passed by Senate - Feb 2019

ASIC will soon be able to pursue harsher penalties against banks, executives and other in breaches of financial services laws, after a significant bill was passed by both houses. Partner, Andrea Beatty and Law Graduate, Danielle Bonanno review the proposed changes to ASIC’s power.

Labor plans to require banks and regulators to report every six months - Feb 2019

In the wake of the Banking Royal Commission, the Labor Party has announced plans to require banks and financial regulators to report every six months on their progress to remedy cultural problems. Partner, Andrea Beatty and Law Graduate, Chelsea Payne report on the proposal.

Labor proposes Small Amount Credit Contract (SACC) Bill - Feb 2019

The Labor Party has announced its intention to introduce a bill to crackdown on payday lending. Parter, Andrew Beatty and Law Graduate, Chelsea Payne discuss the significance of the proposed bill.

AAT reduces banning period for two former Macquarie advisers - Feb 2019

The AAT recently reduced the ban on two former Macquarie Advisers. Partner, Andrea Beatty and Law Graduate, Danielle Bonanno consider the AAT decision.

$55M demand scuppered in battle of form over substance. (Very) strict compliance is required when it comes to calls on performance security. - Feb 2019

In the recent decision of Santos Limited v BNP Paribas [2019] QCA 11, the Queensland Court of Appeal upheld a decision that a failure to include the words “authorised signatory of Santos Limited” meant that a demand made upon a bank guarantee was invalid.  Given the principle of ‘’strict compliance’’, the employee’s signature and position description did not amount to a representation that he was an authorised representative of Santos Limited.  Ted Williams, Partner and Gemma Twemlow, Senior Associate, discuss what the decision means for parties when notices under contracts.    

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