Financial Services AU
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November 12, 2026
ASIC Seeks $5.41m Telstra Super Fine For Complaint Delays
ASIC urged the Federal Court of Australia on Thursday to fine Telstra Super $5.41 million for systemic failures to respond to member complaints within statutory deadlines, while the fund argued no penalty was warranted because the breaches were not deliberate.
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November 12, 2026
Shell Keeps Privilege Over Whistleblower Disclosure Docs
The Queensland Supreme Court dismissed Thursday a bid by a Shell whistleblower to cancel the energy giant's privilege claims over 68 documents, ruling that the Corporations Act did not bar the company from sharing a whistleblower's identity with its lawyers.
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November 12, 2026
Clifford Chance Taps Holding Redlich Capital Partner
Clifford Chance said Wednesday that it has taken on Andrew Stone from Holding Redlich for its private capital practice, marking the firm's 11th partner hire in that area in 2026.
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November 12, 2026
Macpherson Kelley Adds Norman Waterhouse Lawyer Smith
Macpherson Kelley has appointed former Norman Waterhouse partner Lincoln Smith as a principal lawyer of its employment, safety and migration team in Adelaide, the law firm announced on Wednesday.
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November 12, 2026
Mallesons-Led IDP Gets Higher $835M Blackstone Offer
US asset manager Blackstone has raised its takeover proposal for IDP Education by 20% to about AU$835 million, making a third attempt to acquire the Australian education services company after its board rejected two earlier offers.
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November 12, 2026
ASIC Eases Advertising Rules For Companies Pre-IPO
ASIC has rolled out new rules on Thursday allowing companies to promote planned IPOs more broadly to retail investors before lodging a prospectus, while allowing those making an offer to correct misinformation.
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November 12, 2026
Corrs-Led Vault Shareholders Back Genesis Gold Merger
Vault Minerals shareholders have backed the gold miner's $5.6 billion merger with Genesis Minerals, clearing a major hurdle toward creating a combined gold producer valued at around $12.6 billion.
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November 12, 2026
APRA Eyes Private Credit, AI Risks To Financial Stability
APRA is ramping up scrutiny of Australia's estimated $250 billion private credit market, warning that opaque lending arrangements and liquidity risks could amplify financial shocks as AI-driven disruption and global market volatility threaten financial stability.
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November 11, 2026
Macquarie Agrees To $14M Penalty Over 'Welcome Rate' Offer
ASIC said on Wednesday that Macquarie has agreed to pay a $14 million penalty, subject to approval by the Supreme Court of New South Wales, after the bank admitted its welcome rate offer to clients breached the Corporations Act.
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November 11, 2026
Ex-Directors At Collapsed Youpa Fined, Banned For 5+ Years
The Federal Court of Australia on Wednesday fined three former directors of collapsed funeral insurer Youpla Group between $20,000 and $50,000 for breaching their duties by maintaining arrangements with Crown Insurance Services, which two of them controlled.
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November 11, 2026
Private Credit Sector Launches Guidelines Amid ASIC Scrutiny
The $250 billion private credit industry has launched its own guidance to strengthen lending practices and enhance investor protection amid increased regulator scrutiny and the $3 billion collapse of private credit-backed property developer Bathla Group.
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November 11, 2026
Federal Court Fair Work Cases Soar 150% Since 2021
The Federal Circuit and Family Court of Australia has reported a 150% surge in Fair Work filings since the 2021-22 period in its latest annual report published on Tuesday, with Fair Work matters surpassing bankruptcy as the court's largest category in federal law matters.
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November 11, 2026
Xingye Sues Far East Gold Alleging Shareholder Oppression
Hong Kong-based Xingye Gold has launched Supreme Court proceedings against mining explorer Far East Gold, seeking to reinstate three ousted directors and block an equity raising amid a dispute over control of the company's board.
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November 11, 2026
NSW Court Clears Billionaire Perich Family's Noumi Takeover
The Supreme Court of New South Wales on Tuesday approved the takeover and privitisation of ASX-listed food and beverage producer Noumi by Arrovest, the billionaire Perich family's private investment company and Noumi's largest shareholder, with Arnold Bloch Leibler advising Noumi.
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November 10, 2026
David Jones Ex-CEO Seeks Buy-Out In Oppression Suit
The former chief executive of David Jones is suing the ailing retailer in the Supreme Court of Victoria, alleging oppressive, prejudicial or discriminatory conduct and seeking a buyout of his shares at fair value.
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November 10, 2026
Australia Plans AI Regulator, Criminal Offence For AI Breaches
The federal government introduced Tuesday mandatory AI safety controls, partly prompted by a "rogue" OpenAI agent infiltrating government systems earlier in 2026 and announced plans for a regulator that can hit AI companies with "significant penalties" while considering a new criminal offense for such incidents.
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November 10, 2026
APRA Scraps Restricted Licences Rules In Bank Overhaul
APRA announced reforms on Tuesday to the licensing process for authorised deposit-taking institutions, including banks, credit unions and building societies.
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November 10, 2026
Gupta's Infrabuild Settles $1B Greensill Debt Dispute Pre-Trial
Steel tycoon Sanjeev Gupta's Australian Infrabuild business has settled with the UK administrators of collapsed Greensill Capital in a dispute over $1 billion owed to the former supply chain finance firm, according to a Supreme Court of New South Wales proceeding on Monday.
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November 10, 2026
NSW Court Clears Perpetual's $550M Wealth Sale To Bain
A New South Wales Supreme Court judge has approved financial services company Perpetual's scheme of arrangement as part of the $550 million sale of its wealth management business Perpetual Wealth Management to private equity firm Bain Capital, in a judgment delivered Monday.
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November 10, 2026
Law Squared Hires Toll Counsel To Lead Disputes
Law Squared has hired Toll Group counsel Molly Liskazer as its new head of disputes and litigation, the firm said Monday, following a year in which the practice more than tripled in size.
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November 10, 2026
ACCC Targets Fake Discounts In Black Friday Sales Sweep
The ACCC warned retailers face enforcement action on misleading countdown timers, false claims that stock levels are low, and 'Sitewide' or 'storewide' claims when product exclusions apply, in its third crackdown on the Black Friday and Cyber Monday sales period.
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November 10, 2026
HWL Ebsworth Hires Squire Patton Boggs M&A Partner
HWL Ebsworth has hired Squire Patton Boggs' Blair Strickland as a partner in its Perth corporate and mergers and acquisitions practice, alongside two members of his team.
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November 10, 2026
Queensland Bar Names 10 Barristers As New King's Counsel
The Bar Association of Queensland announced the appointment of 10 barristers as King's Counsel on Thursday as recommended by Supreme Court of Queensland Chief Justice Helen Bowskill.
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November 10, 2026
Victorian Bar Elects Mark Costello KC As New President
The Victorian Bar Association announced Mark Costello KC of New Chambers has been elected president, taking over from Fiona Ryan SC for the 2026-2027 term.
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November 10, 2026
Mallesons-Led Service Stream Buys Programmed For $975M
Infrastructure services company Service Stream Ltd. said it has agreed to buy staffing and facilities management business Programmed for $975 million, and has appointed Mallesons as its legal adviser.
ASIC Sues CBA Over $8.5M In Alleged Hidden CommBiz Fees
ASIC is suing the Commonwealth Bank of Australia in the Federal Court of Australia, alleging the bank charged tens of thousands CommBiz customers $8.5million in undisclosed fees, according to a statement on Thursday.
NAB Must Repay $169M On Decade Of Payroll Underpayments
National Australia Bank must repay $169 million in underpaid wages, interest and superannuation to almost 66,000 staff as part of a decade of failures to meet an enterprise agreement, the Fair Work Ombudsman said on Thursday.
ACCC Says IAG-RAC Deal's Harms Outweigh Public Benefits
Australia's competition watchdog has warned that Insurance Australia Group's $1.4 billion acquisition of RAC Insurance is unlikely to deliver enough public benefits to outweigh the harm to competition in Western Australia's home and motor insurance markets.
ASIC Sues CBA Over $8.5M In Alleged Hidden CommBiz Fees
ASIC is suing the Commonwealth Bank of Australia in the Federal Court of Australia, alleging the bank charged tens of thousands CommBiz customers $8.5million in undisclosed fees, according to a statement on Thursday.
NAB Must Repay $169M On Decade Of Payroll Underpayments
National Australia Bank must repay $169 million in underpaid wages, interest and superannuation to almost 66,000 staff as part of a decade of failures to meet an enterprise agreement, the Fair Work Ombudsman said on Thursday.
ACCC Says IAG-RAC Deal's Harms Outweigh Public Benefits
Australia's competition watchdog has warned that Insurance Australia Group's $1.4 billion acquisition of RAC Insurance is unlikely to deliver enough public benefits to outweigh the harm to competition in Western Australia's home and motor insurance markets.
Editor's Picks
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ASIC Alleges Ex-Super Retail CEO Misled Directors
ASIC alleges that Super Retail Group's former chief executive misled its directors by dismissing allegations of a relationship with its then-HR boss as baseless, according to Federal Court of Australia documents provided to Law360.
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6 Financial Services Cases To Watch In Remainder of 2026
The High Court of Australia's decision in the Commonwealth Bank of Australia shareholder class action, with its implications for plaintiffs seeking to prove causation and loss, and ASIC cases that will test superannuation trustees' obligations are among Law360's financial services cases to watch during the remainder of 2026.
Expert Analysis
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How Private Funds Can Gird For Warned Asset Valuation Tests
The private credit sector should heed the Australian Securities and Investments Commission’s recent warning to reassess potentially overvalued assets by recording the in-the-moment reasoning behind valuation and redemption decisions, which may be challenged in future disputes or enforcement, says Trevor Withane at Ironbridge Legal.
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Making Private Equity-Style Protections Work For Public Deals
While private equity structures such as novel break fees and warranty and indemnity protections are now increasingly used in public mergers and acquisitions, these risk allocation mechanisms need to be adapted to succeed in regulated public equity transactions, says Andrew Gaffney at K&L Gates.
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ASIC Data Shows What Makes Voluntary Administration Work
A recent Australian Securities and Investments Commission report on voluntary administration offers helpful insights on how the structure of a deed of company arrangement affects the prospects for success, and how DOCA returns compare with liquidation, say lawyers at HFW.
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Navigating New Australia Foreign Capital Gains, Merger Rules
Australia's recently enacted Treasury Law amendments, reforming the foreign resident capital gains tax regime and making critical changes to the merger notification framework, mark a significant escalation in regulatory enforcement, while showing that the government wants to remain attractive for foreign capital in the energy transition, say lawyers at MinterEllison.
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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.