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Chalmers Weighs 'Tell Us Once' Fix For Co. Reporting Burden
The Productivity Commission is reviewing the growing burden of non-financial reporting requirements on Australian businesses, including whether overlapping obligations across regulators like ASIC, APRA and laws can be streamlined through a "Tell Us Once" model, Treasurer Jim Chalmers announced in a statement on Monday.
Fed Court Raps eHarmony For 'Subscription Trap' Breaches
Online dating site eHarmony has been found in breach of consumer law by the Federal Court of Australia for misleading customers over subscription-based membership prices and terms on its website and app after hundreds of complaints about charges and automatic renewals at higher prices.
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ART, Fair Work Commission Tighten GenAI Disclosure Rules
The Administrative Review Tribunal published new rules governing AI use by lawyers acting in its proceedings on Monday, the same day the Fair Work Commission released similar guidelines citing a 70% increase in workload primarily due to potential litigants now using artificial intelligence tools.
Chalmers Weighs 'Tell Us Once' Fix For Co. Reporting Burden
The Productivity Commission is reviewing the growing burden of non-financial reporting requirements on Australian businesses, including whether overlapping obligations across regulators like ASIC, APRA and laws can be streamlined through a "Tell Us Once" model, Treasurer Jim Chalmers announced in a statement on Monday.
Fed Court Raps eHarmony For 'Subscription Trap' Breaches
Online dating site eHarmony has been found in breach of consumer law by the Federal Court of Australia for misleading customers over subscription-based membership prices and terms on its website and app after hundreds of complaints about charges and automatic renewals at higher prices.
ART, Fair Work Commission Tighten GenAI Disclosure Rules
The Administrative Review Tribunal published new rules governing AI use by lawyers acting in its proceedings on Monday, the same day the Fair Work Commission released similar guidelines citing a 70% increase in workload primarily due to potential litigants now using artificial intelligence tools.
Expert Analysis
In the Australian Securities and Investments Commission's case against former Star Entertainment CEO Matt Bekier, ... (more story)
The most significant reform to Australia's anti-money laundering regime in two decades recently came into force, w... (more story)
The Australian Transaction Reports and Analysis Centre's recent risk snapshots on money laundering, financing of t... (more story)
Financial Services More
New Zealand-based casino operator SkyCity said it has rejected two unsolicited takeover bids, including a $602 million offer from US investment firm Oaktree Capital, citing low value and "problematic" conditions.
ASIC Commissioner Simone Constant has hit out at superannuation trustees not delivering core requirements and signalled the regulator's dissatisfaction with their oversight on high-risk private credit.
High Court Justice Michelle Gordon said the legal profession could "do better" on women's equality, outlining practical steps to encourage equitable briefing at the bar in a wide-ranging speech in Melbourne last month.
Almost 1,400 complaints against Interprac Financial Planning over advice linked to the failed First Guardian and Shield schemes, including three cases in which investors are awaiting payment of $578,000 in com... (more story)
One of the former directors of collapsed broker Berndale Capital is appealing his two-year jail sentence in the Federal Court of Australia over his conviction for siphoning client funds for his personal benefit.
A MinterEllison employee suing the law firm for nearly $800,000 has failed to convince the Federal Court of Australia to grant her most of the special accommodations she had sought for her discrimination trial... (more story)
Former ACCC chair Graeme Samuel has rejected growing calls to break up the Big Four accounting firms by separating their audit and consulting divisions, describing the move as "draconian overreach" in a submis... (more story)
KPMG Australia said it will cut 27 partners and about 360 staff from its consulting division as the fallout from the whistleblower scandals hits revenues.
Commercial Disputes More
WiseTech has named former Oracle and SAP executive Tim Ebbeck as an independent board member overseeing audit and risk, days after the ACCC executed a search warrant against the software company over alleged v... (more story)
Law firm Agency Settlements has discontinued its case against the founder of conveyancing firm Dott & Crossitt, Jared Zak, and agreed to pay costs over his allegations that it engaged in "deposit flicking," ci... (more story)
Class action law firm Shine Lawyers said an "unexpected" interlocutory judgment in an ongoing class action has forced it to write down $13.7 million from this year's earnings, though it is considering appealing the case.
Fintech firm Ovanti said it is preparing legal proceedings against the former CEO of its bankrupt US buy-now pay-later business, according to an Australian Securities Exchange statement on Thursday.
The Federal Court of Australia and the University of New South Wales announced plans on Wednesday to deliver a comprehensive, evidence-based examination of unrepresented litigants amid a swell in cases and AI use.
A New South Wales Supreme Court judge has ruled that REST Infrastructure Trust does not have to pay the full defendants' costs for its failed bid to halt the sale of its share of a roughly $4 billion Dexus-led... (more story)
The former executive of a mining services company has lost his bid for access to correspondence involving shareholders who tried to take over the firm's board in 2022, despite a Federal Court judge saying he a... (more story)
The owner of Melbourne brothel Gotham City has lost a bid to overturn Bendigo Bank's closure of his bank accounts due to suspicious activity, after a Supreme Court of Victoria judge dismissed his claims of dis... (more story)