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Results: 1-10 of 88

The James Hardie decisions: Australian Securities & Investments Commission v Hellicar & Ors 2012 HCA 17; Shafron v Australian Securities & Investments Commission 2012 HCA 18
  • Norton Rose Fulbright LLP
  • Australia
  • May 4 2012

The full bench of the High Court of Australia yesterday overturned the NSW Court of Appeal Decisions in Morley v Australian Securities and Investments Commission (No 2) and Shafron v Australian Securities and Investments Commission (No2) holding that seven non-executive directors and the company secretarygeneral counsel of James Hardie Industries Ltd (JHIL) breached their duties as directors or officers of the company in relation to the release of a misleading announcement to the Australian Stock Exchange (ASX


Will I need an AFS licence to deal in regulated emissions units? Updated draft legislation and new ASIC regulatory guide released
  • Norton Rose Fulbright LLP
  • Australia
  • March 21 2012

It was proposed that “Australian carbon credit units” and “eligible international emissions units” be deemed as “financial products” under the Corporations Act 2001 (Cth) (Corporations Act


Shareholder reliance on misleading and deceptive conduct
  • Norton Rose Fulbright Australia
  • Australia
  • June 8 2012

On 15 March 2012, the Full Federal Court in De Bortoli Wines Pty Ltd v HIH Insurance Ltd (in liquidation) handed down its decision holding that actual reliance had to be shown by a shareholder in actions brought for misleading and deceptive conduct in contravention of s52 of the Trade Practices Act 1974 (Cth) (TPA) (which is now s18 of the Australian Consumer Law


How will the European Union Directive on Alternative Investment Fund Managers (AIFMD) affect Australian fund managers?
  • Norton Rose Fulbright LLP
  • Australia, European Union
  • March 2 2012

The recent economic landscape has seen a significant regulatory overhaul of the financial services sector in Europe


Tougher rules for financial planners
  • Norton Rose Fulbright LLP
  • Australia
  • July 29 2010

In the shadow of the GFC and in response to the recommendations made by a parliamentary Joint Committee on Financial Services, the Federal Government has proposed wide-reaching reforms to the financial services sector


The James Hardie decision: Australian Securities & Investments Commission v MacDonald
  • Norton Rose Fulbright LLP
  • Australia
  • July 29 2010

The Australian Securities & Investments Commission (ASIC) commenced civil proceedings in the Supreme Court of NSW against James Hardie Industries Limited (JHIL), James Hardie Industries NV (JHINV), seven former non-executive directors and three former executives of JHIL for breaches of the Corporations Act 2001 (Cth) (the Act) in relation to the preparation and approval of public statements


ASIC proposes increased financial requirements for responsible entities
  • Norton Rose Fulbright LLP
  • Australia
  • October 26 2010

Following the global financial crisis and a number of high profile collapses of managed investment scheme operators, ASIC recently released Consultation Paper 140: Financial Requirements which proposed a number of amendments to the financial requirements applicable to responsible entities - the operators of registered managed investment schemes


New disclosure rules for hedge funds
  • Norton Rose Fulbright LLP
  • Australia
  • March 2 2011

ASIC has released Consultation Paper 147 Hedge funds: Improving disclosure for retail investors (CP 147), which describes ASIC's proposal to introduce disclosure principles and benchmarks for hedge funds


Stand by your man
  • Norton Rose Fulbright LLP
  • Australia
  • December 21 2010

The Full Court of the Federal Court has ruled (2:1) in Stoddart v Boulton (2001) 185 FCR 409, on appeal from Justice Reeves' judgment at first instance, that the common law privilege against spousal incrimination has not been abrogated by the Australian Crime Commission Act 2002 (Cth) (the Act


Colonial First State Investments case: can taxation of trusts get any more complicated?
  • Norton Rose Fulbright LLP
  • Australia
  • March 4 2011

The streaming of certain types of capital gains to investors is common practice amongst managed funds: it allows fund managers to pass on the benefit of discounted gains to long-term investors