Regulator - November 2009
Mallesons’ Regulator Newsletter offers perspectives on current regulatory issues from the Market Regulation team.
Regulator - October 2009
Mallesons’ Regulator Newsletter offers perspectives on current regulatory issues from the Market Regulation team.
Octaviar - was it all just a bad dream? - 21 September 2009
The Octaviar decision has been emphatically overturned by the Queensland Court of Appeal. But this does not yet mean that life necessarily returns to the way it was. For a start, there is the possibility of appeal. In any event, the “genie is out of the bottle”: parties who want to attack charges will be looking closely at the registration provisions of the Corporations Act and the drafting and registration of charges and variations, and at least one remark in the appeal judgment may leave some uncertainty. Thus, parties taking security will need to remain alert, though not alarmed.
Regulator - 2nd edition - 14 August 2009
Regulator - 2 July 2009
Mallesons’ Regulator Newsletter offers perspectives on current regulatory issues from the Market Regulation team.
Unfair Contracts Bill: implications for financial services providers - 30 June 2009
Financial services providers will be regulated under a proposed national unfair contracts regime (“regime”) from 1 January 2010. The regime will apply to new contracts entered into after 31 December 2009, and also affect contracts that are varied after that date (but only to the extent of the variation). The first step will be to identify the affected products and services.
Australian Government releases guarantee scheme documents - 21 November 2008
The Australian Government (“Government”) has today published its guarantee facility under which Australian authorised deposit-taking institutions (“ADIs”) may apply to have deposit amounts over A$1 million and certain funding liabilities guaranteed by the Government. Foreign banks (“Foreign ADIs”) authorised to carry on banking business in Australia under the Banking Act 1959 may also apply to have certain deposits and funding liabilities held by Australian residents guaranteed by the Government.
Mutual Recognition Agreement between the US and Australia - 29 August 2008
This week the Australian Securities and Investments Commission, the US Securities and Exchange Commission and the Australian Minister for Superannuation and Corporate Law, entered into a mutual recognition arrangement. Initially it will be limited to certain national exchanges and broker dealers who deal with institutional clients
Managed investment scheme issuers are now subject to anti-money laundering laws - 30 January 2008
On Thursday 31 January 2008, the Anti-Money Laundering and Counter-Terrorism Financing Regulations 2008 will take effect under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (AML/CTF Act).
Latest proposed changes to the section 128F interest withholding tax exemption - 16 May 2007
On 10 May 2007, Tax Laws Amendment (2007 Measures No. 3) Bill 2007 (Bill) was introduced to Parliament. The Bill includes proposed amendments which narrow the scope of the interest withholding tax (IWT) exemption in section 128F of the Income Tax Assessment Act 1936 (section 128F exemption) in relation to “debt interests” which are not in the form of debentures.
New changes to Capital Gains Tax for foreign residents - 8 December 2006
On 7 December 2006, the Australian Parliament passed the Tax Laws Amendment (2006 Measures No. 4) Bill 2006. The Act amends the capital gains tax (CGT) provisions of the Income Tax Assessment Act 1997 (Cth) as they relate to foreign residents. The changes take effect from the date of Royal Assent of the Act, which is expected to be on about 15 December 2006.
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