The doctrine of unconscionable conduct has experienced a resurgence in financial services regulation, with ASIC increasingly bringing enforcement action on the basis of this doctrine. On 17 July 2020, ASIC commenced civil penalty proceedings in the Federal Court of Australia against Forex Capital Trading Pty Ltd and its sole director, alleging numerous acts of unconscionable conduct. … Read more

In this edition of HSF FSR Australia Notes, we cover some live issues facing employers with respect to their superannuation guarantee (SG) obligations. 1. What is the SG amnesty and how can you take advantage? Employers are generally required to make quarterly SG contributions in respect of their employees under the Superannuation Guarantee (Administration) Act … Read more

THE STARTING POINT This edition of HSF FSR Australia Notes delves into a phenomenon which we see as increasingly prevalent in the Australian financial services market; namely, the over-reporting or under-reporting of significant breaches under section 912D of the Corporations Act. In this sense, the burning question becomes just what is the right compass setting … Read more

THE ISSUE The issue of differential pricing of financial products on investment platforms has arisen as a news item over the past several weeks. This edition of FSR Australia Notes sheds some light on this topic, and the legal furphies and controversies surrounding it. THE STARTING POINT The starting point is to articulate the concept … Read more

This edition of Regulatory Rinkles follows on from our previous edition on Spotlight on Conflicted Remuneration and focuses on the transitional issues facing product issuers and advice licensees who are looking to end or deal with their existing grandfathered arrangements before the grandfathering exemption is removed from 1 January 2021. LEGISLATIVE BACKGROUND – THE END … Read more