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Westpac Says KPMG Withheld Allens Reports Over Privilege
Westpac has revealed KPMG initially refused to provide Allens' investigation reports into the auditor's whistleblower scandal, citing legal professional privilege, before later handing over partially-redacted versions.
Justice Muston Says Bar Has "Stubborn" Diversity Problem
The Supreme Court of NSW Justice Edward Muston has advocated for the Australian legal profession, particularly the bar, to better represent the community it serves by giving opportunities across the board given limited diversity is "a particularly stubborn problem."
Government Eyes $109M Fines For Addictive App Features
The Federal Government is proposing penalties of up to $109 million for online services including social media sites like Google's YouTube and Meta's Instagram that fail to protect children from addictive or harmful features, while also giving Australians a choice to opt in or out of social media algorithms.
Westpac Says KPMG Withheld Allens Reports Over Privilege
Westpac has revealed KPMG initially refused to provide Allens' investigation reports into the auditor's whistleblower scandal, citing legal professional privilege, before later handing over partially-redacted versions.
Justice Muston Says Bar Has "Stubborn" Diversity Problem
The Supreme Court of NSW Justice Edward Muston has advocated for the Australian legal profession, particularly the bar, to better represent the community it serves by giving opportunities across the board given limited diversity is "a particularly stubborn problem."
Government Eyes $109M Fines For Addictive App Features
The Federal Government is proposing penalties of up to $109 million for online services including social media sites like Google's YouTube and Meta's Instagram that fail to protect children from addictive or harmful features, while also giving Australians a choice to opt in or out of social media algorithms.
Expert Analysis
Tim Mornane, Norton Rose's banking and finance team leader, discusses the challenges of working on contract works ... (more story)
The government’s recently announced reforms to strengthen its Foreign Investment Review Board framework represent ... (more story)
In the Australian Securities and Investments Commission's case against former Star Entertainment CEO Matt Bekier, ... (more story)
Financial Services More
Andrew Clements KC has been appointed a judge of the Supreme Court of Victoria sitting in the common law division, which hears matters concerning property, tort, contract law, wills and estates, and appeals fr... (more story)
ASIC has banned former Sequoia Financial Group CEO Garry Crole from managing a financial services business for 10 years due to competence and diligence failures in his management of subsidiary Interprac which ... (more story)
High Court Justice Michelle Gordon said the legal profession could "do better" on women's equality, outlining practical steps to encourage equitable briefing at the bar in a wide-ranging speech in Melbourne last month.
A New South Wales Supreme Court judge has approved private equity giant Warburg Pincus' purchase of commercial credit and risk reporting services platform CreditorWatch, in a deal worth around $700 million.
The Law Society of South Australia President David Colovic has opposed High Court of Australia Chief Justice Stephen Gageler's calls for the Legal Profession Uniform Law to become a "truly national" system.
Phi Finney McDonald said it is "well advanced" in a class action proposal against Corporate Travel Management and it's former auditor PwC Australia for allegedly misleading investors in its financial reports a... (more story)
Newly-appointed APRA Deputy Chair David Bradbury says the challenge facing the Australia's superannuation industry is ensuring an uplift in governance to match its scale as total assets surpassing $4.7 trillion.
AUSTRAC has cancelled, suspended or refused to renew the registrations of 45 remittance and virtual asset businesses over the past year as it ramps up scrutiny of high-risk payment sectors.
Commercial Disputes More
The Victorian Supreme Court judge overseeing a shareholder class action alleging mining company Arrium Ltd issued misleading financial reports has rejected auditor KPMG's bid to access draft versions of a plai... (more story)
The Australian Financial Complaints Authority has added over 100 new members including major telecommunications firms like Optus and digital platforms including Meta, TikTok and Google ahead of its expanded ro... (more story)
Beacon Minerals' former project manager Alexander McCulloch was sentenced to 12 months' imprisonment for insider trading after he told two friends to buy 11 million Beacon Mineral shares while he had confident... (more story)
A disqualified self-managed superannuation fund auditor has been sentenced to 60 hours of unpaid community service by the Melbourne Magistrates Court after he admitted to auditing funds and falsifying document... (more story)
The federal government will introduce new legislation and regulations to exempt Robodebt class action settlements from tax, income testing and compensation recovery arrangements to ensure victims receive the full amount.
Fund manager Pengana Capital has applied to the Takeovers Panel to block Geoff Wilson's Wilson Asset Management (WAM) from raising its stake in Pengana's international equities fund, citing disclosure and conf... (more story)
An Australian judge on Tuesday denied Equatorial Resources Ltd.'s attempt to block its former counsel at Clifford Chance LLP from seeking arbitration over a roughly $3.46 million unpaid legal bill, incurred as... (more story)
The federal Takeovers Panel ordered gold mining company Forrestania Resources to extend the deadline for its bid to buy gold and lithium producer Zenith Minerals, after it issued a "declaration of unacceptable... (more story)