We recently published a blog reporting on governance considerations for regulated firms in relation to Russian sanctions. As the sanctions landscape continues to evolve, impacted firms operating in different jurisdictions are grappling with overlapping and differing requirements, and global firms will need to ensure a coordinated approach across their operations. We have set out below

This is not the beginning of some outré joke but the context for one of the most important insurance decisions of the year.

On 8 October 2021, the Federal Court handed down its long-awaited decision in Swiss Re International Se v LCA Marrickville Pty Limited (Second COVID-19 insurance test cases) [2021] FCA 1206 (Second

September continued to be a busy month in the funds, super and insurance sectors, as the industry is in the final stages of preparing for the anticipated breach-reporting, anti-hawking reforms and new customer complaints handling requirements which are effective from October. Notably, ASIC has provided further guidance on each of these topics to assist the

A significant Covid-19 related business interruption claim has been decided in favour of insurers. In Star Entertainment Group Limited v Chubb Insurance Australia Ltd [2021] FCA 907, the Federal Court dismissed Star Entertainment Group’s claim for business interruption losses under an industrial special risks (ISR) policy. It appears Star has appealed the decision.

Remote working has accelerated the merger of work and private data, particularly on mobile phones and instant messaging services such as WhatsApp.

While employees are performing their jobs, mobile access may be putting their employers at risk – because work-related communications on unapproved platforms are frequently not preserved in accordance with regulatory requirements (where applicable),

During April 2021, ASIC has used its product intervention powers to ban the sale of binary options to retail clients, as well as to extend temporary relief instruments amidst COVID-19. ASIC has also urged claims handling firms to lodge licences by next month. The superannuation sector has seen the release of exposure draft regulations to

Throughout 2020 and 2021, financial services firms have had to respond and adapt to a number of regulatory challenges in an unprecedented fashion. Firms now have to navigate a diverging regulatory landscape as a result of Brexit, at the same time as continuing to respond to an array of pandemic-related risks that have arisen. Nevertheless,

Information requests from regulators can raise a host of complex legal and practical issues for entities and individuals.

Our experts in this field have set out the key considerations around the production of information to UK and US regulators, including information-gathering powers, privilege issues and increased global data sharing.

Information-gathering powers

Many UK regulators have

In November 2020, ASIC released a number of anticipated industry reports, providing an update on the buy now pay later industry as well as licensing and professional registration activities for 2020. The superannuation and funds management sector also had some notable developments, including the exposure draft legislation and explanatory memorandum released as part of the

The month of October 2020 has seen ASIC use its product intervention powers by imposing conditions on the issue and distribution of contracts for difference (CFDs) to retail clients as well as releasing updated guidance on unfair contract terms laws for insurance. The Federal Government has announced a number of key reforms, including