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Section 30 and Section 33 Notices – ASIC’s Power to Compel Production of Books
01 Feb 2021
Rachel Erlich
Senior AssociateThe Australian Securities and Investments Act 2001 (ASIC Act) gives ASIC the power to issue section 30 and section 33 notices compelling the production of certain books. Section 30 and…...
Read moreResponsible Managers and the Key Person Condition – The Consequences
20 Jan 2021
Frank Varga
Head of LicensingWe have previously discussed what does it mean to be a Responsible Manager? To recap, Section 912A of the Corporations Act, which sets out the key obligations of an AFS…...
Read moreAvoiding a successful Unfair Dismissal claim – Some hints and tips
15 Dec 2020
Tim Dixon
Special CounselIt is said that the most valuable asset of a business can be its employees. Whilst that is usually true, from time to time it becomes necessary, for the good…...
Read moreNew Breach Reporting Regime: as simple as assembling a springless trampoline
08 Dec 2020
Paul Derham
Managing PartnerAfter browsing the recently-tabled 153-page Financial Sector Reform Bill, I was struck by the irony of Hayne’s comments in his Interim Report: Should the existing law be administered or enforced…...
Read moreASIC’s Product Intervention Power – How does it work?
01 Dec 2020
Rachel Erlich
Senior AssociateSince 6 April 2019, ASIC has had the power to proactively intervene in relation to a financial or credit product (“product”) or class of products to reduce the risk of…...
Read moreThe Dangers of Ignoring Client Vulnerability
05 Nov 2020
Paul Derham
Managing PartnerChances are, you’re reading this article on an electronic device. You may have used the same device to video-chat with others, message your team and create or send documents…...
Read moreAll Over – the Business impact after COVID-19
21 Oct 2020
Grant Holley
Previously a Partner & Co-Founder at Holley NethercoteWe are all ‘over COVID’, but are we ‘all over’ the business law issues likely to arise when COVID-19 is all over? Our objective with Commercial Corner is to address…...
Read moreI Want to Buy an AFSL
12 Oct 2020
Frank Varga
Head of Licensing“Do you have an AFSL that we can buy?” This is a regular query that we receive which results in a lengthy response. Buying an Australian Financial Services Licence…...
Read moreWe all know “fair’s fair”; but what is fair?
05 Oct 2020
Grant Holley
Previously a Partner & Co-Founder at Holley NethercoteIt is a legitimate question; and an important one if you are in the financial services sector. The Macquarie dictionary relevantly defines it as “free from bias, dishonesty, or injustice”…...
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