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Latest intelligence


ASIC announces banks to improve fraud protection systems following review

Hall & Wilcox

On 9 August, ASIC announced that five Australian banks will improve their compliance measures and controls for deposit accounts that can be operated...

Tailor Your International Arbitration Agreements to Reduce TIme, Control Costs, and Reach Desireable Outcomes

JAMS

Conventional wisdom. The New York Convention helps resolve private commercial disputes, whereas the Washington Convention facilitates trade and...

IRS continues to release guidance for the new centralized partnership audit regime

Bingham Greenebaum Doll LLP

The IRS continues to issue both final and proposed regulations clarifying the operation of the centralized partnership audit regime. The centralized...

OCIE Publishes Risk Alert on Compliance Issues Relating to Best Execution

Vedder Price PC

On July 11, 2018, the Office of Compliance Inspections and Examinations (OCIE) of the SEC published a National Exam Program Risk Alert (the Risk...

FINRA Seeks Information on Member Firms’ Activities Related to Digital Assets

Vedder Price PC

On July 6, 2018, FINRA published Regulatory Notice 18-20 (the Notice) as part of its continuing efforts to ascertain the extent of FINRA member firm...

Care workers are not entitled to minimum wage for 'sleep-in' shifts

Lewis Silkin

The Court of Appeal has decided that care workers carrying out so-called 'sleep-in' shifts are not entitled to the national minimum wage for the whole shift, but rather only when they are required to be awake and working. In so ruling, the court has overturned various earlier decisions of the Employment Appeal Tribunal and contradictory guidance from Her Majesty's Revenue and Customs, which would have exposed the care sector to claims for arrears of pay worth hundreds of millions of pounds.

Revisiting shareholder disclosure duties in Swiss rights offerings

Niederer Kraft Frey

As in other jurisdictions, under Swiss law there are specific requirements relating to the disclosure of shareholdings and the actions of shareholders...

Credit card lending and consumer protection in Australia

Gilbert + Tobin

The regulation of credit card lending in Australia has been the subject of major reform since 2009, with increased government scrutiny focused on the...

The Government responds to the Senate Economics Legislation Committee report

Hall & Wilcox

On 10 August, the Government responded to the Senate Economics Legislation Committee report on the Reserve Bank Amendment (Australian Reconstruction...

APRA proposes changes to the Australian ADI capital framework

Hall & Wilcox

On 14 August, APRA released a Discussion Paper Improving the transparency, comparability and flexibility of the ADI capital framework, which considers...

Asia Region Funds Passport regulations registered

Hall & Wilcox

On 20 August, the Corporations Amendment (Asia Region Funds Passport) Regulations 2018 (Cth) was registered. According to the Explanatory Statement...

ASIC announces banks to improve fraud protection systems following review

Hall & Wilcox

On 9 August, ASIC announced that five Australian banks will improve their compliance measures and controls for deposit accounts that can be operated...

ASIC approves Banking Code of Practice

Hall & Wilcox

On 10 August, the ASIC Corporations (Banking Code of Practice) Instrument 2018700 was registered (Instrument). The Instrument provides ASIC's...

Government releases Productivity Commission Inquiry Report on competition in the Australian financial system

Hall & Wilcox

On 3 August, the Government released the Productivity Commission Inquiry Report on competition in the Australian financial system. An overview was...

Cross-border insolvency regime - past and future

RPC

There are no statutory provisions empowering the Hong Kong courts to provide assistance and recognition to foreign insolvency office holders. The...


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