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Financial Services AU

    A dark silhouette of a judge's gavel

    Big Un Ex-CFO Insider Trading Case Dropped By Prosecutors

    Federal prosecutors have dropped insider trading charges against the former CFO of tech company Big Un after a jury in March failed to reach a verdict on allegations he used companies in his control to sell $5 million worth of the ASX-listed stock before it collapsed, ASIC said.

    Star Fined $10M On 'Systemic' Financial Crime Failures

    Star Entertainment must pay $10 million in fines over failures to check if customers were linked to criminal activity including money laundering and terrorism financing, and allowing customers to gamble for over 12-hours in a 24-hour time frame, the casino regulator ruled on Monday, adding pressure on the beleaguered operator.

    ANZ Appeals NZ Ruling Awarding $125M To Mortgage Holders

    ANZ said it is appealing the High Court of New Zealand's judgment handing NZ$125 million to mortgage holders in a class action over loan disclosures.

  • June 02, 2026

    Law Society Says $200M Needed for 'Deteriorating' SA Courts

    The Law Society of South Australia has urged the state government to invest $200 million to help address the "sorry state" of court buildings, saying years of minimal spending on upkeep is harming vulnerable court users and has delayed justice.

  • June 01, 2026

    New Federal Circuit AI Rules Stress Strong Human Oversight

    The Federal Circuit and Family Court has released instructions for the use of artificial intelligence in court proceedings, saying lawyers must make sure related information is accurate and that AI protects the privacy and safety of parties involved in litigation.

  • June 01, 2026

    IAG Settles In $4B Greenshill Collapse Case in Federal Court

    Insurance Australia Group Limited has reached a confidential settlement with the administrator for collapsed Greensill Capital, settling claims in the Federal Court of Australia over roughly $4 billion plus interest in policies, the insurer announced Friday.

  • May 29, 2026

    Dexus Must Sell $4B Airport Stake After 'Reckless' Breaches

    Real estate investment giant Dexus must sell its roughly $4 billion stake in Melbourne and Launceston airports after a NSW Supreme Court judge ruled Friday that it had acted in "reckless disregard" in breaching its shareholder deed by revealing confidential financial information and "dishonestly" covered it up.

  • May 29, 2026

    ASIC's Longo says Regulatory Burden 'Too High'

    ASIC chair Joe Longo has called for reforms to corporate law to reduce compliance burdens, in a final speech to Parliament on Friday, after five years overseeing a more aggressive corporate regulator that doubled investigations and secured record penalties including a $250 million ANZ fine for widespread misconduct and risk failures.

  • May 28, 2026

    Mayfair 101 Seeks To Undo $30M ASIC Penalties Case

    A group of companies led by prominent failed businessman James Mawhinney has asked the Federal Court to set aside $30 million in penalties for misleading investors about risky investment products, arguing their original 2021 trial was unfair.

  • May 28, 2026

    Full Federal Court Rules Worley Misled Market

    The Full Federal Court on Thursday ruled on appeal that global engineering firm Worley Limited misled investors in its 2013 earnings guidance, handing shareholders a major victory in a long-running class action and bolstering market-based causation in securities litigation. 

  • May 28, 2026

    Judge Questions ASIC 'Irrationality' On Star $1.3M Penalty Ask

    Federal Court Justice Michael Lee pressed ASIC on Thursday to justify its proposed hefty penalties for anti-money laundering compliance breaches by two former Star Entertainment executives, saying disparities with other fines issued pre-trial made the regulator's proposals look irrational.

  • May 28, 2026

    Banks Face Stiffer Scam Obligations Under Draft Rules

    Australian banks would need to take reasonable steps to prevent, detect and disrupt scams, and report and respond to them, under new draft rules released by the Albanese Government on Thursday, as well as issue automatic repayments of claims under $3,000.

  • May 27, 2026

    Small, Medium, Really Big: APRA's New Bank Rule Tiers

    The Australian Prudential Regulation Authority on Wednesday eased compliance burdens for small and medium banks by lifting its threshold for designating "significant" financial institutions by $10 billion.

  • May 27, 2026

    Westpac Must Pay $26M After Mishandling Hardship Claims

    Westpac must pay $26 million in civil penalties after the Federal Court in Melbourne ruled on Tuesday it had failed to respond to more than 200 of its more vulnerable customers' financial hardship requests, which Judge Timothy McEvoy described as "grossly negligent."

  • May 27, 2026

    NSW Chief Judge Says Don't Assume Safe Harbour Covers AI

    New South Wales Chief Justice Andrew Bell warned in a recent speech that company directors will not be protected from liability if they rely on artificial intelligence without prudent oversight given the technology's well-known risks of "sycophantic agreement," bias and hallucination.

  • May 26, 2026

    Judge Refuses To Disqualify ERA Legal In $67M Loan Dispute

    ERA Legal can stay on as solicitors for lenders in a lawsuit over a $66.7 million loan, after a Federal Court judge in Perth ruled that even though the firm's fees tied to the loan itself are part of the litigation, it does not mean the Sydney commercial law firm is conflicted and must be disqualified.

  • May 26, 2026

    Don't License Super Switching, Ban It, Pension Funds Say

    Opposition to businesses who encourage superannuation switching is building within the retirement fund industry with the Super Members Council and CBUS backing an outright ban as Treasury considers changes following the billion-dollar collapse of First Guardian and Shield Master funds.

  • May 26, 2026

    Credit Suisse Can't Claim Euro Shield For Greensill Docs

    Credit Suisse must cough up unredacted documents in a $2.2 billion dispute with insurers over the collapse of Greensill Capital, after a Federal Court judge in Sydney ruled on May 18 that the need for a fair trial trumps the risk of violating European privacy laws.

  • May 26, 2026

    ASIC Warns Gen Z Is New Target Of Crypto Scams

    ASIC warned Monday that scammers using WhatsApp groups for share trading and stock tips are pushing fake cryptocurrency investment platforms on Generation Z investors who are more at risk due to their "widespread exposure" to crypto advertising on social media.

  • May 26, 2026

    Albanese $833.3B Budget Takes Aim At Capital Gains

    The Albanese Government unveiled its 2026-27 Budget on May 12, billing the $833.3 billion spending plan as providing "resilience and reform" through new measures, including controversial cuts to capital gains concessions and increased spending on energy, infrastructure, and housing.

  • May 26, 2026

    CBA Investors Push High Court To Revive AML Loss Claims

    Commonwealth Bank of Australia shareholders are urging the High Court to restore claims that they suffered losses due to the bank's failure to prevent money laundering, which led to a record $700 million AUSTRAC penalty, arguing a lower court prematurely dismissed their claims.

  • May 18, 2026

    Latham Reps Anglo American On $3.9B Australia Coal Mines Deal

    Mining giant Anglo American said Monday that it will sell coal mines in Australia to a Britain-based miner for up to $3.875 billion in a move to simplify its business ahead of a $52 billion merger with Canada's Teck Resources.

  • May 13, 2026

    Gov't Unit Targets £99B Australian Pension Fund Investment

    The British government has launched a project designed to attract around £99 billion ($133.8 billion) of Australian pension fund investment over the next decade as part of its broader bid to direct retirements savings capital toward the U.K.

  • May 12, 2026

    Shell Wins Australia Tax Fight Over $71.6M In Added Taxes

    The Australian Taxation Office wrongly assessed AU$98.9 million ($71.6 million) in additional taxes to a Shell plc subsidiary by denying its entitlement to add a premium to its cost basis for a deemed acquisition of shares, the Federal Court of Australia said.

  • May 12, 2026

    Australia Aims to Curb Property Loss Tax Deductions

    The Australian government plans to implement measures aimed at limiting tax deductions in situations where interest expenses tied to rental properties exceed related income, which will raise 3.6 billion Australian dollars ($2.6 billion) over five years, according to a budget released Tuesday.

  • May 11, 2026

    Australia Preparing Decisions On Capital Gains Tax Issues

    Australia is preparing determinations and guidance on five issues related to capital gains taxation, including when anti-avoidance laws may be applied to multiple deferrals of liabilities and how the tax applies when a cryptocurrency is pegged to another cryptocurrency, the Australian Taxation Office said Monday.

  • May 05, 2026

    2 Firms Guiding Creation Of $7.7B Australian Gold Miner

    Mallesons-advised Regis Resources Ltd. and Vault Minerals Ltd., a fellow Australian gold producer represented by Corrs Chambers Westgarth, said Tuesday they will merge in an all-share deal, creating a top Australian producer with a roughly $7.7 billion market capitalization.

  • April 23, 2026

    Cathay Bank Says Macquarie Hid $100M DTG Rival Acquisition

    Cathay Bank sued Macquarie's asset management arm and the former executives of recycling company DTG Enterprises in Washington federal court Wednesday, claiming they tricked lenders into backing a $540 million buyout by misrepresenting DTG's financial viability and concealing a plan to acquire its largest competitor for $100 million.

Expert Analysis

  • Australian Payments Reg. Proposals Will Broaden Oversight

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    The Australian government’s recent payments regulation proposals for a more activity-based licensing framework will significantly expand the perimeter of entities, indicating that the regulators view payment systems, digital assets and tokenized financial infrastructure as part of a connected regulatory ecosystem, say lawyers at Corrs.

  • Australia's Computer Patent Ruling Will Aid Global Companies

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    While courts around the world have struggled to articulate a technology-neutral test for patentability of computer-implemented inventions, a recent decision by Australia's top court offers a decisive answer, creating strategic opportunities for overseas applicants, say attorneys at Mallesons.

  • Assessing The Significance Of Australia-EU's Free Trade Deal

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    The recently concluded Australia-European Union free trade agreement could be a springboard for a more ambitious initiative bringing together the EU and the economies of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a critical mass capable of shaping norms across subsidies, sustainability disciplines and competition policy, says Alan Yanovich at Akin Gump.

  • Decoding Arbitral Disputes: ICSID Enforcement In Australia

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    The Federal Court of Australia recently ruled for award creditors in Blasket Renewable Investments v. Spain in a judgment that explains how Australia's statute book operationalizes the promise of depoliticized enforcement under the International Centre for Settlement of Investment Disputes Convention while accommodating, without yielding to, the centrifugal forces of European Union law, says Josep Galvez at 4-5 Gray's Inn.