Financial Services AU
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October 12, 2026
Ferras Merhi Can't Strike Insurers' Claim He Gave False Info
The Federal Court of Australia on Friday rejected former financial adviser Ferras Merhi's bid to strike out parts of an insurers' defence alleging he provided false information when seeking cover for Financial Services Group Australia.
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October 12, 2026
Pentridge Developer Denied Costs Stay After $845M Suit Toss
A Victorian Supreme Court judge has refused to stay a costs order against the collapsed developer of the Pentridge Village housing project to facilitate a new lawsuit after previously tossing its roughly $845 million suit against the project's financing company, saying the proposed stay was a delay tactic.
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October 12, 2026
DLA Piper Taps Ex-Mallesons Counsel As Finance Partner
DLA Piper has appointed former Mallesons special counsel Ryan Iskandar as a partner in its global finance practice, the law firm said in a statement.
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October 12, 2026
White Oak Must Post $8M More For Insurers' Trial Costs
The Federal Court of Australia has ordered White Oak Global Advisors to pay another $8 million in cost securities in its ongoing trial against insurance giants IAG and BCC Tokio Marine, roughly half of what the defendants had requested ahead of the months-long proceedings.
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October 09, 2026
Hollard Penalised $2M In Warning To Insurers Over Delays
A Federal Court fined Hollard Insurance $2 million on Friday for delaying an insured's storm claims, exceeding the initial proposal but falling below ASIC's $30 million demand amid "diametrically opposed views of the seriousness" of its conduct.
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October 09, 2026
AICD Wants Taskforce to Cut Regulations, Climate Reporting
An Australian Institute of Company Directors-commissioned report published Thursday calls for enforceable "shot clocks" on regulators to meet deadlines, adjusting climate-reporting requirements to exclude another 3000 businesses and extending automatic mutual recognition licenses to reach 168,000 workers.
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October 09, 2026
High Court Rejects Bid To Sue Plumber's Insurers Directly
The High Court of Australia has refused a special leave application appealing a Victorian Supreme Court case finding a claimant alleging defective plumbing cannot pursue the plumber's insurers directly without first establishing the plumber's liability, in a judgment published Thursday.
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October 09, 2026
HSF-Led Firmus $44B IPO Scrapped On Weak Demand
Data centre operator Firmus has withdrawn its application for its $44 billion initial public offering in Australia amid weak investor demand, citing market volatility on Friday.
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October 09, 2026
Chief Justice Tells New Silks To Bring Juniors To Court
The Federal Circuit and Family Court of Australia Chief Justice William Alstergren has urged newly elected Senior Counsel to "always appear" in court with a junior legal professional, citing the "desperate need" for junior barristers to attend in-person.
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October 08, 2026
Fed Court Applies Australian Privilege Rule To Japan Report
Australian legal professional privilege can protect documents produced in a jurisdiction where the doctrine is less clearly defined, the Federal Court has ruled, providing a "helpful point of clarity" for cross-border litigation, experts say.
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October 08, 2026
Gadens Adds Finance, Property Partners Amid Growth
Gadens has appointed HWL Ebsworth's financial services partner Mizu Ardra and Denton's property partner Natasha Murgatroyd to its Melbourne and Perth respectively, the law firm said in a statement on Friday.
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October 08, 2026
Baker McKenzie Taps White & Case Exec As Global COO
Baker McKenzie has appointed White & Case executive Jennifer Parks as its new global chief operating officer, the firm said on Tuesday.
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October 08, 2026
ASIC Halts $252M Private Credit Funds On Disclosure Gaps
ASIC says it has halted offers in three private credit funds issued by Australian Secure Capital Fund (ASCF) with over $251 million in assets invested in short-term mortgages, due to concerns of defective or misleading disclosure statements, the regulator said on Thursday.
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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
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.
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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
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.
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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.
ANZ Loses $117M Insurer's Fight Over Class Settlements
ANZ has failed to convince a Federal Court of Australia judge that its insurers must cover more than $116.9 million in settlements and defence costs related to two class actions because they were outside the excess policies' definition of loss.
ASX Directors Face Suit On Botched CHESS Replacement
ASX shareholder Rosherville Pty Ltd. has filed a lawsuit against the stock exchange company's directors in the Federal Court of Australia alleging they breached their duties related to the botched replacement of the ASX's CHESS clearing and settlement platform, the company said on Friday.
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KPMG Review Finds Ethical Culture 'Say-Do Gap'
KPMG Australia's ethical culture has a 'say-do gap' between what management says and does that is compounded by governance weaknesses, according to external advisory firm Principia Advisory's assessment of its whistleblower framework and speak-up environment.
ANZ Loses $117M Insurer's Fight Over Class Settlements
ANZ has failed to convince a Federal Court of Australia judge that its insurers must cover more than $116.9 million in settlements and defence costs related to two class actions because they were outside the excess policies' definition of loss.
ASX Directors Face Suit On Botched CHESS Replacement
ASX shareholder Rosherville Pty Ltd. has filed a lawsuit against the stock exchange company's directors in the Federal Court of Australia alleging they breached their duties related to the botched replacement of the ASX's CHESS clearing and settlement platform, the company said on Friday.
KPMG Review Finds Ethical Culture 'Say-Do Gap'
KPMG Australia's ethical culture has a 'say-do gap' between what management says and does that is compounded by governance weaknesses, according to external advisory firm Principia Advisory's assessment of its whistleblower framework and speak-up environment.
Editor's Picks
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Class Action Recoveries Tracker: Settlements Top $1.7B in '26
Class action plaintiffs raked in more than $1.7 billion in financial year 2025-26 across 17 cases finalised in the Federal Court and Victorian Supreme Court, according to analysis by Law360.
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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.
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.