“Sanctions” have been in the news quite often lately. The United Nations has adopted, and many of its member-states have imposed, trade and economic sanctions against North Korea to pressure its regime to give up nuclear weapons. Similarly, recent political developments surrounding the so-called “Iran Nuclear Deal” have been all about re-imposing sanctions in relation

Norton Rose Fulbright is pleased to offer you a rare opportunity to hear from some of the leading voices in risk and disruption.

We will be hosting our annual Financial Institutions Symposium in our Sydney office on Thursday 27 October 2016. Discussion will focus on current ‘Risks & Disruptors’ in the global

Government releases its Response to FSI Final Report.

The Australian Government has released its Response to last December’s Final Report of the Financial System Inquiry or ‘Murray Inquiry’.

The Government appears to have accepted almost all of the Inquiry’s recommendations and has also proposed additional measures that are consistent with the Murray Inquiry’s underlying philosophy.

ASIC continues to reshape its approach to enforcement, with the focus on disclosure having shifted sharply in the last year to a focus on delivering better consumer outcomes. In the last 12 months, we have been discussing ASIC’s use of behavioural economic theory and the spectre of UK regulation that underpins ASIC’s drive towards product

On December 18, 2014, the Commodity Futures Trading Commission’s (“CFTC’s”) Division of Clearing and Risk (“DCR”) issued extensions of previously granted “No-Action” relief to four foreign clearing organizations. The relief allows these foreign clearing organizations to continue to clear swaps for certain United States persons (“U.S. persons”) without being registered as a derivatives clearing organization

As with the Murray Inquiry’s Interim Report, the Final Report highlights cyber security and technology related fraud risks as an emerging trend for the financial services industry that presents many challenges.

At the forefront of the risks that arise is the rapid pace of technological change that is occurring within the financial system and how

Incentivising whisteblowers could be an easy first step for the Australian Government if it were to heed the call by the recent Senate Economics References Committee for a more pro-active approach to fraud. 

Currently, Australia has no incentivised whistleblower programs. The prospect of a reward for whistleblowers would see a sharp rise in the number