US Coverage
Law360 | The Practice of Law
State Specific Coverage
Law360 Authority | Deep News & Analysis
Financial Services AU
-
June 23, 2026
Financial Advisers Oppose Advice Curbs After Shield Collapse
The financial advisory industry has signalled strong opposition to ending exemptions to anti-hawking rules arguing it would have a "significant negative impact" on advice access, in a direct rejection of proposals by the Federal Government into the billion-dollar collapse of the Shield and First Guardian superannuation funds.
-
June 23, 2026
KPMG Australia Chairman Resigns Amid Audit Furore
KPMG Australia Chairman Martin Sheppard on Tuesday announced his resignation from the board and the exit of former chief operating officer Eileen Hoggett and audit partner Paul Rogers in the fallout from the whistleblower scandal.
-
June 22, 2026
Australia High Court Chief Justice Pay Frozen At $688,780
High Court of Australia Chief Justice Stephen Gageler AC will be paid a base salary of $688,780, the same level as a year earlier, according to a Tribunal decision on Thursday, with the pay level of his fellow High Court justices also held at $625,050.
-
June 22, 2026
Ex-DPP Jon White SC Named ACT Supreme Court Judge
Jon White SC, a former ACT director of public prosecutions, is the new resident judge on the ACT Supreme Court from Monday, the ACT Attorney General announced.
-
June 22, 2026
Equity Trustees Exits Super Trusteeship Amid ASIC Cases
Equity Trustees, the superannuation trustee facing two civil cases by ASIC for diligence failures in the decision allowing its members to invest in the collapsed First Guardian Master and Shield Master funds, says it is exiting independent superannuation trusteeship citing regulatory shifts.
-
June 19, 2026
Ashurst Says Law Firm Did Not Conduct KPMG Investigation
Global law firm Ashurst told a parliamentary inquiry on Friday it did not conduct an investigation into KPMG's whistleblower, in a direct challenge to the auditing firm's claims to senators.
-
June 19, 2026
Lendlease Chair Says KPMG Audit Access A 'Grave Misuse'
Lendlease Chairman John Gillam said KPMG's alleged use of confidential information in their audit to win new accounts is a "grave misuse of access privilege" and they are "deeply disappointed" by the "fundamental breach of trust" by the auditor, in a parliamentary hearing on Friday.
-
June 18, 2026
HSBC Australia Fined $35M, Admits To Serious Scam Failures
HSBC Australia must pay a $35 million penalty after admitting to serious failures to protect customers against scams that left some clients losing their life savings, a Federal Court of Australia judge ruled on Thursday, matching the fines sought by the regulator and bank.
-
June 18, 2026
Justices Signal Struggles With Causation In CBA Class Action
Two High Court justices pushed Commonwealth Bank of Australia shareholders to explain how the bank's failure to disclose anti-money laundering failures caused their alleged losses, suggesting that the shareholders' causation theory was complicated and not necessarily in line with precedent they cited.
-
June 17, 2026
APRA Warns Banks To Meet Threat Of Geopolitical Risks
APRA Chair John Lonsdale said the financial services industry needs to lift its standards to protect against geopolitical shocks, in a speech on Wednesday, citing the risks of foreign interference, sanctions and frontier AI models which threaten to change the nature, speed, and scale of cyber, disinformation and operational risks.
-
June 17, 2026
Ex-Star CEO Fined $700K, Banned 6 Yrs On Director Breaches
The Federal Court on Wednesday ordered former Star Entertainment CEO Matt Bekier to pay a $700,000 penalty for anti-money laundering compliance breaches, around half of what ASIC had been seeking, and ordered a six-year management ban.
-
June 17, 2026
ASIC Wins High Court Fight Over Block Earner Crypto Product
The High Court of Australia on Wednesday ruled Block Earner's "Earner" crypto-linked fixed-yield product was a financial investment product and required a financial services license in a win for ASIC and clarification for what constitutes a "financial product" under corporate law.
-
June 16, 2026
Law Council Defends Client Legal Privilege Amid KPMG Probe
The Law Council of Australia has challenged the "public misapprehension" that legal professional privilege is inherently scandalous and against the public interest, amid concerns legal privilege will be used to shield KPMG from government regulator requests into the consultancy giant's alleged misuse of confidential client information.
-
June 16, 2026
APRA Draft Rules Tighten Governance At Banks, Super Funds
The Australian Prudential Regulation Authority on Tuesday announced new draft guidelines for banking, superannuation and insurance that boost board requirements to oversee risk and governance and adds assessments on the fitness and propriety of directors.
-
June 16, 2026
KPMG Bids For Govt Contracts On Pause Amid Ethical Probe
The Federal Government on Monday said KPMG Australia has agreed not to bid for new Commonwealth contracts for three months while it completes its inquiry into ethical concerns around the consultancy giant.
-
June 15, 2026
WA Bill Would Create Judge Complaints Watchdog
The Western Australian government is planning an independent watchdog to handle complaints about the conduct and capacity of judges and magistrates in new legislation announced on Sunday.
-
June 15, 2026
ASX Settles ASIC Suit On Misleading Chess Update For $20M
The Australian Stock Exchange agreed on Monday to pay a $20.5 million penalty and $3 million of ASIC's costs in a last-minute settlement with the regulator over misleading updates the ASX made about its CHESS clearing and settlements project, just hours before the planned trial in the Federal Court.
-
June 12, 2026
Federal Justice Jackman Calls Judge Delays 'Egregious'
Federal Court Justice Ian Jackman has called out a number of Federal Court judges for slow delivery of their judgments in what he described as "egregious" delays in a lecture in Sydney on Thursday.
-
June 12, 2026
ASIC Wins Record $300M Fine On Union Standard Misconduct
The Federal Court issued a record $300.2 million penalty on Thursday across foreign exchange broker Union Standard International Group and its representatives EuropeFX and TradeFred for "unconscionable" conduct selling risky financial products to vulnerable customers who lost tens of millions.
-
June 12, 2026
ACCC Backs Magellan, Barrenjoey Investment Bank Tie-Up
The Australian Competition and Consumer Commission has approved the merger between investment banks Magellan Financial Group Ltd. and Barrenjoey Capital Partners in a deal expected to complete in early July, according to a statement by Magellan today.
-
June 11, 2026
High Court Rules Trust Did Not Hold Taxable Loan
The Australia High Court rejected Australian revenue authorities' bid to tax nearly $1.7 million that a real estate company held in a trust, ruling Wednesday that the money did not constitute an unpaid loan.
-
June 11, 2026
Victorian Lawyer Reprimanded Over 'Dummy Directors'
A Victorian lawyer has been fined and given a stayed suspension of her practising certificate after the Victoria Civil and Administrative Tribunal found she engaged in professional misconduct including facilitating the appointment of "dummy directors" before a company liquidation, falsifying documents and failing to act in her client's best interests.
-
June 10, 2026
ASIC Targets Greenwashing, Fake Endorsements In Ad Update
ASIC says financial services firms need to be aware of greenwashing, disingenuous celebrity testimonials and offering unrealistic expectations to consumers including overly promoting benefits and bait advertising low interest rates, in updated advertising guidelines.
-
June 10, 2026
ASIC Admonishes Super Trustees On Death Claims Handling
ASIC pushed superannuation trustees to speed up their handling of death benefit claims on Wednesday, pointing out that Australia's ageing population has already prompted a 10% rise in claims and with growth expected to continue.
-
June 09, 2026
Clive Palmer Company Pleads Guilty In Takeover Law Case
Billionaire Clive Palmer's company Palmer Leisure Coolum has pled guilty in the Brisbane Magistrate's Court to breaching takeover law over a proposed acquisition of a timeshare resort scheme after over a decade of legal battles, including a series of attempted appeals by the Queensland mining and resort businessman to the High Court