Financial Services AU
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October 08, 2026
Hall & Wilcox Adds Holding Redlich Employment Partner
Hall & Wilcox has hired Holding Redlich's Andrew Klein as a partner in Canberra specialising in government workplace relations and employment matters, the firm said in a statement on Wednesday.
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October 07, 2026
CyberSecurity Firm Urges AI Rules With Real Consequences
Global cybersecurity firm Palo Alto Networks says Australian AI cybersecurity guidance should be made legally enforceable, telling a parliamentary inquiry on Wednesday there should be real consequences if firms fail to properly consider security when deploying artificial intelligence.
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October 07, 2026
QLD Court Rejects Director's Bid To Void $2.8M Tax Judgment
The Supreme Court of Queensland rejected on Friday a bid by a director of two collapsed transport companies to set aside a default judgment over unpaid penalties, dismissing her claims that she was "uneducated" and misunderstood her role in the businesses.
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October 07, 2026
RAMS Breached Good Faith In Ending Franchise, Court Finds
The Federal Court of Australia has ruled that former Westpac subsidiary RAMS Financial Group breached its good-faith obligations by revoking a franchisee's credit authorisation and terminating its agreement, but made no finding on unconscionable conduct.
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October 07, 2026
ASIC Sues Adviser Over Shield, First Guardian Payments
ASIC has sued former financial adviser Osama Saad in the Federal Court, alleging he participated in schemes to avoid conflicted remuneration laws and breached his best interest obligations when advising clients to invest their superannuation in the collapsed First Guardian Master Fund.
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October 07, 2026
WA Supreme Court Appoints Simon Millman Registrar
The Supreme Court of Western Australia has elected former state Labor politician Simon Millman as its registrar and extended Todd Hill's tenure as an acting registrar, the WA Supreme Court said in a statement on Thursday.
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October 05, 2026
White Oak Must Post $5M As IAG Flags Asset Concerns
Greensill Capital creditor White Oak must provide $5 million in security costs after the Federal Court of Australia granted applications by underwriter BCC Tokio Marine and insurer IAG, which argued that the investment vehicle was "effectively in run-off" with minimal assets.
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October 06, 2026
Equity Trustees Says Overhedging 'Overwhelmingly Proven'
Equity Trustees said Tuesday that it had "overwhelmingly proven" Tactical Global Management wrongly "overhedged" currency trades, which cost the trustee $5.8 million, adding TGM cannot show it had tacitly approved the data used for those trades.
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October 06, 2026
NSW Bar Association Names 20 Barristers As 2026 Silks
The New South Wales Bar Association has appointed 20 barristers as Senior Counsel for 2026, the association said on Friday.
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October 06, 2026
Court Backs Vault-Genesis Gold Merger Shareholder Vote
The Supreme Court of Western Australia has approved a shareholder vote by gold producer Vault Minerals for its proposed merger with rival gold miner Genesis Minerals, Vault Minerals said on Monday.
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October 06, 2026
OFX Probes Client Data Breach, Says Funds Unaffected
Foreign exchange fintech OFX is investigating a cybersecurity incident involving unauthorised access to client data, but said it had found no evidence that client accounts or funds were affected.
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October 06, 2026
Justice Clements Hails Mentors At Welcome Ceremony
Victorian Supreme Court Justice Andrew Clements reflected on the "good fortune" his legal career has brought him during his welcome ceremony on Tuesday, paying tribute to the mentors who helped shape his career, including his father and John Noonan KC.
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October 06, 2026
Judge Appoints Receivers To $19M Star Resort Scheme
A Federal Court judge on Tuesday appointed receivers to Star Investment Group, accused by ASIC of misleading investors into putting $19 million-plus into an unregistered Victorian resort investment scheme, after the company's CEO no-showed on a related hearing.
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October 05, 2026
ART Rejects Stay Of Ex-MWL Financial Adviser's Ban
The Administrative Review Tribunal has refused to partially stay ASIC's four-year ban on former MWL financial adviser Pardeep Singh, with general member Rebecca Smith finding that the public interest weighed against doing so.
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October 05, 2026
Banking Group Says AI Offers 'Generational Opportunity'
The Australian Banking Association has recommended that the federal government promote artificial intelligence adoption and AI-based fraud protections in the banking sector, while limiting new AI-specific regulations, saying the technology represents a "generational opportunity" to lift productivity across the economy.
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October 05, 2026
Justice Kirk Warns 'Unrestrained' Attacks Erode Rule Of Law
NSW Court of Appeal Justice Jeremy Kirk has warned that "strident and unrestrained" attacks on judges can undermine public confidence in courts and the rule of law, while acknowledging that the judiciary should remain open to legitimate criticism.
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October 02, 2026
SA Taps Ex-Federal Court Judge For AI Royal Commission
A former Federal Court Justice has been appointed to lead the South Australian Royal Commission into Artificial Intelligence that will evaluate how South Australians can maximise the benefits of the technology while managing potential risks.
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October 02, 2026
Guarantors Ordered To Pay $16M Over Missing Gold Bars
The NSW Supreme Court has ordered two guarantors to pay investment group THN Capital $19.8 million for breaching an irrevocable authority deed they claimed depended on selling missing gold bars worth millions of dollars.
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October 02, 2026
Pinsent Masons Elects Property Leader As Managing Partner
Pinsent Masons LLP said Wednesday that it has tapped the global head of the firm's property group to become its next managing partner, marking its second major leadership appointment at the firm.
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October 02, 2026
PwC Australia Buys Advancy To Bolster Private Equity Advice
PwC Australia has acquired Advancy Australia, a smaller strategy consulting firm that specialises in mergers and acquisitions and private equity, the consulting giant announced on Thursday.
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October 02, 2026
CPA Australia Elects McRae President, Adds 2 Directors
Accounting body CPA Australia has elected deputy president Warren McRae as its new president and chair and named two deputy presidents and two new board members.
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October 02, 2026
HSF Kramer-Led Foresight Closes $530M Kondinin Wind Deal
UK investment manager Foresight has secured financing for the 130MW first stage of Western Australia's Kondinin Wind Farm and acquired full ownership of the broader Kondinin Energy project, with HSF Kramer advising.
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October 02, 2026
ASIC Lifts Stop Orders On Remara Private Credit On Amends
ASIC has revoked its interim stop orders against three private credit products offered under Melbourne Securities Corporation's (MSC) Remara Cash Management Fund, after MSC amended its target market determinations.
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October 02, 2026
CA ANZ Wants Ethics Update at KPMG, Finds No Major Flaws
Chartered Accountants Australia has recommended KPMG Australia appoint an independent chief ethics officer, set clearer rules for using external investigators for misconduct allegations and strengthen controls on using confidential audit-client information to pursue other work, in its review of the confidentiality controls and ethical culture prompted by the whistleblower scandal.
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October 01, 2026
RBA Says Financial System 'Good Degree of Resilience'
The Reserve Bank of Australia says Australia's financial system has a "good degree of resilience" but remains vulnerable to global and operational shocks, in its latest financial stability review on Thursday.
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CBA Urges Govt To Consider Opt-Out Rules For AI Training
Commonwealth Bank of Australia Chief Executive Matt Comyn said Australia's lawmakers should consider a statutory AI-training copyright regime under which rights holders could opt out of having their material used to train AI models and receive compensation when it is used.
Greensill Blocked Verification On Invoices, White Oak Says
US investment firm White Oak Global Advisors told the Federal Court of Australia that Lex Greensill blocked it from verifying invoices from multinationals including Mitsubishi and Panasonic, as it defended negligence allegations relating to its deal with the financier as it seeks to recover million of dollars in insurance claims linked to the invoices it bought.
Justice Lee Says AI Push Aimed At Easing Class Action Costs
Federal Court of Australia Justice Michael Lee says he is pushing AI use in his courts because it could reduce the "extraordinarily expensive" legal costs of class actions adding that lawyers should not expect the courts to be "passive" about the opportunities presented by AI.
CBA Urges Govt To Consider Opt-Out Rules For AI Training
Commonwealth Bank of Australia Chief Executive Matt Comyn said Australia's lawmakers should consider a statutory AI-training copyright regime under which rights holders could opt out of having their material used to train AI models and receive compensation when it is used.
Greensill Blocked Verification On Invoices, White Oak Says
US investment firm White Oak Global Advisors told the Federal Court of Australia that Lex Greensill blocked it from verifying invoices from multinationals including Mitsubishi and Panasonic, as it defended negligence allegations relating to its deal with the financier as it seeks to recover million of dollars in insurance claims linked to the invoices it bought.
Justice Lee Says AI Push Aimed At Easing Class Action Costs
Federal Court of Australia Justice Michael Lee says he is pushing AI use in his courts because it could reduce the "extraordinarily expensive" legal costs of class actions adding that lawyers should not expect the courts to be "passive" about the opportunities presented by AI.
Editor's Picks
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Justice Lee Says AI Push Aimed At Easing Class Action Costs
Federal Court of Australia Justice Michael Lee says he is pushing AI use in his courts because it could reduce the "extraordinarily expensive" legal costs of class actions adding that lawyers should not expect the courts to be "passive" about the opportunities presented by AI.
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IAG Settles $2.8B Greensill Claims With Credit Suisse
Trade insurance claims worth billions of dollars linked to the Greensill Capital collapse will go untested in the Federal Court of Australia as insurance giant Insurance Australia Group confirmed a settlement Friday in its stoush with UBS-owned Credit Suisse.
Expert Analysis
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What To Know As Australia's New CGT Regime Takes Shape
Lawyers at Mallesons take stock of Australia’s recently enacted Treasury Law amendments and explain the capital gains tax regime's current state, the issues that were resolved during the legislative process, the questions that remain unanswered, and the practical steps that taxpayers and advisers should take before commencement next year.
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What To Know About ASX Listing Reform, Enforcement Plans
The Australian Securities Exchange’s forthcoming proposed listing rule reforms and enforcement priorities represent a measured evolution in shareholder oversight in public markets, and heightened investor expectations for transparency and participation in corporate decisions, say lawyers at Addisons.
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ASIC Win Broadens View Of Fixed-Yield Crypto Products
The High Court of Australia's recent landmark ruling in Australian Securities and Investments Commission v. Web3 Ventures, determining that fixed-yield cryptocurrency products are financial products, endorses an expansive approach to federal law that suggests purposive readings of existing statutes will be favoured over a wait-and-see approach to novel technology, say lawyers at Hall & Wilcox.
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Practice Leader Insights
Practice group leaders share thoughts on keeping the pulse on legal trends, tackling difficult cases and what it takes to make a mark in their area in this Law360 Australia Expert Analysis series.
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Practice Leader Insights From Norton Rose's Tim Mornane
Tim Mornane, Norton Rose's banking and finance team leader, discusses the challenges of working on contract works insurance policies in real estate development matters, the need for a legislative framework for handling insolvent trusts, and the professional teaching and mentoring hurdles that may arise due to artificial intelligence use.
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Gov't Reforms Should Ease Decisions On Foreign Investment
The government’s recently announced reforms to strengthen its Foreign Investment Review Board framework represent a genuine shift in the regime, streamlining the process for low-risk investments, while equipping the regulator with stronger tools to address those that are medium- and high-risk, says Jeremy Low at Allens.
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Star Ruling Highlights Corporate Governance Hazards
In the Australian Securities and Investments Commission's case against former Star Entertainment CEO Matt Bekier, the Federal Court held several executives liable for money laundering violations, demonstrating what happens when governance systems that appear adequate on paper fail to deliver critical information to decision-makers, say lawyers at Piper Alderman.
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How Australia's AML Reforms Widen Compliance Duty Remit
The most significant reform to Australia's anti-money laundering regime in two decades recently came into force, which not only fundamentally alters the compliance landscape for financial services providers, but also brings lawyers within the regulatory perimeter for the first time, say lawyers at Clifford Chance.
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How Cos. Can Rework AML Controls After AUSTRAC Warning
The Australian Transaction Reports and Analysis Centre's recent risk snapshots on money laundering, financing of terrorism and proliferation risks underscore that with the convergence of artificial intelligence and real-time payment systems, Australia’s financial crime threats are becoming harder to detect through traditional means, say lawyers at Herbert Smith.
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Greenwashing Scrutiny Grows As Regulators Expand Focus
The Australian Securities and Investments Commission and Australian Competition and Consumer Commission continue to penalize investment companies and superannuation trustees for misleading environmental claims, signalling that greenwashing enforcement is an intensifying feature of Australia's corporate accountability framework, say lawyers at Ashurst Perkins Coie.
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Practice Leader Insights From Phi Finney's Joel Phibbs
Joel Phibbs, Phi Finney's anti-money laundering and counter-terrorist financing practice lead, discusses the approach of banks when dealing with compliance, the challenges of delays in getting cases to trial, and why financial bodies' regulatory burden and the desire to lower costs using artificial intelligence seem like a recipe for major problems in the future.
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APRA's Warning Letter Means Directors Must Grasp AI Risks
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A recent letter from the Australian Prudential Regulation Authority outlines industry expectations for managing artificial intelligence-related risk, reminding boards and directors to work closely with their technology officers to ensure compliance with the regulator’s recommendations, says Claire Mallon at HWLE.
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Practice Leader Insights From HSF Kramer's Andrew Bradley
Andrew Bradley, leader of HSF Kramer's financial services regulatory practice in Australia, discusses managing mental health while working on a complex matter, the glaring need for further reform in the financial advice sector, and why this practice area may be the most dynamic and intellectually stimulating.