Financial Services » Finance Sector Reform & Regulation

Widespread reforms in the financial services industry include refinements to the “financial services reform” regime, consumer credit and margin lending reforms, new anti-money laundering laws, personal property securities reforms, the Future of Financial Advice reforms, the implications of the Cooper Review, regulatory capital requirements in the non-banking sector, and tax reforms that impact on the funds management industry.

Our lawyers help clients navigate the myriad of regulatory reforms that impact their business, and work closely with key regulators including APRA, ASIC, ACCC and ATO.

Our Experts

Christine Maher.jpg

Christine Maher

Partner Location Brisbane Profile
DWYERJoannewebsitegreySIZEDTH.jpg

Joanne Dwyer

Special Counsel Location Brisbane Profile
OROURKEMeganwebsite.jpg

Megan O'Rourke

Partner Location Perth Profile
Michael Chaaya.jpg

Michael Chaaya

Partner Location Sydney Profile

Our Experience

Port Botany and Port Kembla

Corrs advised a member of the NSW Ports Consortium in successfully bidding for the 99-year lease of Port Botany and Port Kembla from the NSW State Government. The ports were leased to the NSW Ports Consortium for $5.07 billion with an annual lease payment of $5 million.

The assets represent two of Australia’s largest ports and are both essential to the primary import and export gateways to NSW. Port Botany is vital to the economy of Sydney and NSW as the only large-scale container handling facility. Port Kembla serves as a key export facility for coal and other bulk products and is Australia’s largest vehicle import facility.

More

Our Thinking

FSI panel recognises the potential of impact investment

The Financial Services Inquiry panel has thrown its support behind the fledgling impact investment industry in Australia.

More

Will your internal compliance pass the ASIC test? Steps to take before the regulator comes knocking

A Senate recommendation that ASIC increase surveillance is a message to AFSL holders to get their internal compliance in order.

More

Will the Senate Committee report on ASIC’s performance be the trigger for class actions against financial planners?

AFSL holders could find themselves being litigated against for failures in management oversight and internal compliance programs.

More

Financial planners on notice after Senate report on ASIC

The Senate Economic References Committee’s report into the Performance of ASIC has ramifications for all financial planners and their AFSL holders.

More

Plugging the leak or stemming the tide: Culture, responsibility and the future of financial regulation

Australia needs a regulatory framework that fosters ethical and responsible handling of price sensitive information.

More

Free trade agreements trigger financial services opportunities for Australia

Australia’s new trade agreements with Japan and Korea will also boost financial services and infrastructure investment in Australia.

More

A passport to growth - A step closer to an Asia Region Funds Passport

Australia will join New Zealand, South Korea and Singapore in signing a statement of intent to formalise the Passport.

More

Islamic finance in Australia Part 3 - What’s stopping Islamic finance flourishing down under and what must be done

Apathy and a lack of understanding are stopping Australia rising to become an important Islamic finance hub in Asia Pacific.

More

Islamic finance in Australia Part 2 - Islamic finance opportunities Down Under

This is the second instalment in a series of articles looking at Islamic finance as an emerging opportunity on the Australian financial services landscape.

More

A win for common sense not a blow to continuous disclosure but perhaps its time for a new way forward...

The Fortescue decision throws doubt on whether ASIC is the right body to make decisions about continuous disclosure.

More

Islamic finance in Australia Part 1 - Introducing Islamic finance

This paper introduces Islamic finance and the key structures and concepts on which it is established.

More

The future of financial advice (FOFA) reforms

The Future of Financial Advice (FOFA) reforms focus on the framework for the proper provision of financial advice.

More Download

If Asia is the new Britain, we need a new passport

Australia’s proposed Asia Region Funds Management Passport seeks to ease current regulatory differences relating to the sale of financial products between Australia and Asia.

More

Is it time for Australia to rethink its approach to financial restructurings?

As a result of the willingness of local lenders to sell debt in the secondary market there has been increased participation from off-shore lenders keen to utilise foreign restructuring techniques in Australia. How should local lenders respond?

More

Our Experience

Port Botany and Port Kembla

Corrs advised a member of the NSW Ports Consortium in successfully bidding for the 99-year lease of Port Botany and Port Kembla from the NSW State Government. The ports were leased to the NSW Ports Consortium for $5.07 billion with an annual lease payment of $5 million.

The assets represent two of Australia’s largest ports and are both essential to the primary import and export gateways to NSW. Port Botany is vital to the economy of Sydney and NSW as the only large-scale container handling facility. Port Kembla serves as a key export facility for coal and other bulk products and is Australia’s largest vehicle import facility.

Our Thinking

Islamic finance in Australia Part 1 - Introducing Islamic finance

This paper introduces Islamic finance and the key structures and concepts on which it is established.

Plugging the leak or stemming the tide: Culture, responsibility and the future of financial regulation

Australia needs a regulatory framework that fosters ethical and responsible handling of price sensitive information.

Is it time for Australia to rethink its approach to financial restructurings?

As a result of the willingness of local lenders to sell debt in the secondary market there has been increased participation from off-shore lenders keen to utilise foreign restructuring techniques in Australia. How should local lenders respond?

If Asia is the new Britain, we need a new passport

Australia’s proposed Asia Region Funds Management Passport seeks to ease current regulatory differences relating to the sale of financial products between Australia and Asia.

The future of financial advice (FOFA) reforms

The Future of Financial Advice (FOFA) reforms focus on the framework for the proper provision of financial advice.

Islamic finance in Australia Part 2 - Islamic finance opportunities Down Under

This is the second instalment in a series of articles looking at Islamic finance as an emerging opportunity on the Australian financial services landscape.

A win for common sense not a blow to continuous disclosure but perhaps its time for a new way forward...

The Fortescue decision throws doubt on whether ASIC is the right body to make decisions about continuous disclosure.

Islamic finance in Australia Part 3 - What’s stopping Islamic finance flourishing down under and what must be done

Apathy and a lack of understanding are stopping Australia rising to become an important Islamic finance hub in Asia Pacific.

A passport to growth - A step closer to an Asia Region Funds Passport

Australia will join New Zealand, South Korea and Singapore in signing a statement of intent to formalise the Passport.

Free trade agreements trigger financial services opportunities for Australia

Australia’s new trade agreements with Japan and Korea will also boost financial services and infrastructure investment in Australia.

Financial planners on notice after Senate report on ASIC

The Senate Economic References Committee’s report into the Performance of ASIC has ramifications for all financial planners and their AFSL holders.

Will your internal compliance pass the ASIC test? Steps to take before the regulator comes knocking

A Senate recommendation that ASIC increase surveillance is a message to AFSL holders to get their internal compliance in order.

Will the Senate Committee report on ASIC’s performance be the trigger for class actions against financial planners?

AFSL holders could find themselves being litigated against for failures in management oversight and internal compliance programs.

FSI panel recognises the potential of impact investment

The Financial Services Inquiry panel has thrown its support behind the fledgling impact investment industry in Australia.

Our Experts

Christine Maher.jpg

Christine Maher

Partner Brisbane +61 7 3228 9413
DWYERJoannewebsitegreySIZEDTH.jpg

Joanne Dwyer

Special Counsel Brisbane +61 7 3228 9375
OROURKEMeganwebsite.jpg

Megan O'Rourke

Partner Perth +61 8 9460 1712
Michael Chaaya.jpg

Michael Chaaya

Partner Sydney +61 2 9210 6627