Finance Sector Reform & Regulation

Financial Services

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

Consultant Location Brisbane Profile
KHOURY Fadi website grey SIZED TH

Fadi C. Khoury

Partner Location Sydney Profile
HEALY Felicity website grey sized TH

Felicity Healy

Partner Location Sydney Profile
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Joanne Dwyer

Special Counsel Location Brisbane Profile
Mellos Kon CMYK 90x130

Kon Mellos

Partner Location Melbourne Profile
Michael Chaaya.jpg

Michael Chaaya

Partner Location Sydney Profile
ANDERSON Peter website grey fake SIZED TH

Peter Anderson

Special Counsel Location Brisbane 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

Updated ASX Corporate Governance Principles released – a crisis too good to waste?

The release of the 4th edition of the ASX Corporate Governance Principles benefits from the charged atmosphere surrounding the recently-concluded Royal Commission into misconduct in the banking, finance and superannuation industry.

More

Sticks and stones: Banking Royal Commission Final Report signals further regulatory shake up for superannuation

The Banking Royal Commission Final Report has recognised the importance of improving the regulation and supervision of the superannuation industry.

More

Asset management in Australia: overview, key trends and outlook

We write on developments in the asset management industry in Australia, in the 7th edition of international journal The Asset Management Review.

More Download

6 Key Takeaways from ASIC’s Review of IPO Marketing

ASIC’s recent review of marketing activity shows it is willing to move with the times to accommodate new promotional methods for IPOs. But some of the traditional promotional routes still have compliance gaps.

More

Will ASIC’s proposed powers survive? The Government’s FSI response risks death by consultation

The Government’s plan to give ASIC new enforcement tools is highly ambitious.

More

ASIC looks to behavioural economics to improve financial product messages

ASIC is using its “soft power” to influence the design of securities offering documents.

More

Changes to back door listing rules

ASX will now consider waiving the 20 cent rule in certain circumstances relating to back door listings.

More

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

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

Updated ASX Corporate Governance Principles released – a crisis too good to waste?

The release of the 4th edition of the ASX Corporate Governance Principles benefits from the charged atmosphere surrounding the recently-concluded Royal Commission into misconduct in the banking, finance and superannuation industry.

Sticks and stones: Banking Royal Commission Final Report signals further regulatory shake up for superannuation

The Banking Royal Commission Final Report has recognised the importance of improving the regulation and supervision of the superannuation industry.

Asset management in Australia: overview, key trends and outlook

We write on developments in the asset management industry in Australia, in the 7th edition of international journal The Asset Management Review.

6 Key Takeaways from ASIC’s Review of IPO Marketing

ASIC’s recent review of marketing activity shows it is willing to move with the times to accommodate new promotional methods for IPOs. But some of the traditional promotional routes still have compliance gaps.

Will ASIC’s proposed powers survive? The Government’s FSI response risks death by consultation

The Government’s plan to give ASIC new enforcement tools is highly ambitious.

ASIC looks to behavioural economics to improve financial product messages

ASIC is using its “soft power” to influence the design of securities offering documents.

Changes to back door listing rules

ASX will now consider waiving the 20 cent rule in certain circumstances relating to back door listings.

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.

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.

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.

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.

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.

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.

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.

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 1 - Introducing Islamic finance

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

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.

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.

Our Experts

Christine Maher.jpg

Christine Maher

Consultant Brisbane +61 7 3228 9413
KHOURY Fadi website grey SIZED TH

Fadi C. Khoury

Partner Sydney +61 2 9210 6328
HEALY Felicity website grey sized TH

Felicity Healy

Partner Sydney +61 2 9210 6830
DWYERJoannewebsitegreySIZEDTH.jpg

Joanne Dwyer

Special Counsel Brisbane +61 7 3228 9375
Mellos Kon CMYK 90x130

Kon Mellos

Partner Melbourne +61 3 9672 3174
Michael Chaaya.jpg

Michael Chaaya

Partner Sydney +61 2 9210 6627
ANDERSON Peter website grey fake SIZED TH

Peter Anderson

Special Counsel Brisbane +61 7 3228 9450