Corrs In Brief

Corrs In Brief offers the latest updates on legal issues and developments, focusing on their impact to your business and industry.

“Quick and dirty” adjudication; it is quick but there is a limit to how dirty

4 April 2016

In the recent decision of BGC Contracting Pty Ltd v Citygate Properties Pty Ltd [2016] WASC 88, the Supreme Court of Western Australia quashed two adjudication determinations made by the same adjudicator under the Construction Contracts Act (WA) 2004

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ASIC Release Guidance on Marketplace lending

4 April 2016

ASIC has issued an information sheet (INFO 213) to provide guidance on the regulatory requirements that apply to peer-to-peer lending programs that necessitate the adoption of a managed investment scheme business model.

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APRA releases further consultation package on Level 3 Group Framework

31 March 2016

APRA has released for consultation clarification to the governance and risk management components of the framework for supervision of Level 3 groups

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Financial services providers beware: Results from ASIC’s latest enforcement report

31 March 2016

19 criminal and 43 civil cases are currently before the Courts with ASIC taking enforcement action for breaches of financial services law including for unlicensed conduct, dishonest conduct and misleading statements.

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Potential introduction of Project Bank Accounts in Queensland

29 March 2016

In December 2015, the Queensland Government issued a Security of Payment discussion paper seeking industry feedback on ways to improve security of payment for subcontractors. One of the proposals flagged for consideration is the use of project bank

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Conflicts management practices under ASIC microscope

29 March 2016

ASIC has released a new report urging all AFS licensees to review their own conflicts management practices following an extensive review of vertically integrated businesses in the funds management industry.

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Legal Professional Privilege – Keeping Workplace ‘Laundry’ Private

24 March 2016

In this In Brief, we look at recent cases where employees have demanded access to privileged workplace investigation reports; and discuss some practical tips to help employers keep their ‘business’ private.

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Merchants beware: ACCC given powers to stop excessive surcharging

24 March 2016

With the recent amendment to the Competition and Consumer Protection Act 2010, the ACCC has been given the power to take action where merchants charge customers excessive surcharges for paying for goods and services with credit or debit cards.

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Robo-advice gets regulated: consultation on new regulatory guide commences

23 March 2016

ASIC has reaffirmed its “technology neutral” approach to financial services regulation in a new consultation to address organisational competence, “adequate resources” and risk management issues associated with robo-advice.

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Construction law update - March

21 March 2016

This publication provides a concise review of, and commercially focussed commentary on, the major judicial and legislative developments affecting the construction and infrastructure industry in recent months.

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