Exposure to class actions remains a reality for businesses operating in Australia, and several emerging trends are set to influence that risk. ...more
The Australian regulatory landscape continues to be a minefield for financial services businesses. In 2025 we saw ASIC...more
On 12 December 2022, ASIC commenced civil penalty proceedings in the Federal Court against 11 current and former directors and officers of Star Entertainment Group Ltd (Star) for alleged breaches of their duties under s 180...more
The Federal Court has handed down its reasons in Australian Securities and Investments Commission v FIIG Securities Limited [2026] FCA 92, marking the first time the Court has imposed a civil penalty on an Australian...more
AUSTRALIAN UPDATE - ASIC Issues Fines for Misleading Sustainability Claims - On 6 November 2025, the Australian Securities and Investments Commission (ASIC) announced enforcement actions against two major superannuation...more
ASIC has announced its enforcement priorities for 2026, with protecting small businesses, superannuation members, and improving market integrity remaining key objectives. However, new areas of focus have emerged:...more
On 4 December 2025, ASIC published Report 827, Insights from the ASIC Whistleblower Questionnaire: July 2024 to June 2025 (Report). The Report sets out the findings of a questionnaire conducted by ASIC into the whistleblowing...more
The Australian Securities and Investments Commission (ASIC) published its long-awaited updates to Information Sheet (INFO 225). This represents the result of ASIC’s consultation process on the existing document (which we have...more
The growth in private credit over the past few years means understanding this sector of the debt markets, and the benefits private credit can provide, is increasingly important for Private Equity sponsors. Background - ...more
On 5 November 2025, ASIC announced the publication of its roadmap to promote strong, efficient, and globally competitive capital markets in Australia. The roadmap is outlined in report Report 823 titled “Advancing Australia’s...more
The Federal Government has recently announced it has abandoned its initial proposal to require unlisted entities to maintain a public register of their beneficial owners and will instead move directly to develop a centralised...more
On Oct. 27, President Donald Trump nominated Michael Selig, the current chief counsel for the Securities and Exchange Commission (SEC) Crypto Task Force and senior adviser to SEC chairman Paul Atkins, as the 16th chairman of...more
TerraCom has been ordered by the Federal Court of Australia to pay an AUD7.5 million civil penalty for retaliating against a whistleblower in proceedings commenced by the Australian Securities & Investments Commission (ASIC)....more
The Federal Court of Appeal has dismissed ASIC’s appeal and upheld the primary judge’s decision that Finder Wallet’s (Finder) product “Finder Earn” was not a “debenture” and they did not have to hold an Australian Financial...more
On 26 August 2025, Jackman J of the Federal Court of Australia handed down a penalty decision in ASIC v TerraCom Ltd (No 3) [2025] FCA 1017, ordering TerraCom to pay a $7.5 million penalty and an additional $1 million in...more
Emails, text messages and other electronic communications are commonplace during a takeover bid. They may be sent to all target shareholders or only to a selected group. To maximise their impact, often these messages are...more
What’s Inside This Issue? This edition of the K&L Gates Competition & Consumer Law Round-Up provides a summary of recent and significant updates from the Australian Competition and Consumer Commission (ACCC), as well as...more
Australian Update - ASIC Includes Climate-Related Disclosures in its Financial Reporting and Audit Focus Areas for FY2025-26 - The Australian Securities and Investments Commission (ASIC) has published its financial reporting...more
As we have now said goodbye to FY25, we look back on some of the more significant regulatory developments that fund managers can’t afford to ignore....more
The crypto-asset industry has undergone unparalleled expansion and growth in recent years, leaving regulators globally grappling with how to keep up and enforce the existing regulatory frameworks. In Australia, the...more
Following the substantial feedback provided in response to ASIC’s discussion paper, ‘Australia’s evolving capital markets: A discussion paper on the dynamics between public and private markets’ (Discussion Paper) on 10 June...more
Following ASIC’s recent discussion paper and symposium on the dynamics between private and public markets, market commentators have expressed concerns regarding the length and complexity of public market transaction...more
On 10 June 2025, the Australian Securities and Investment Commission (ASIC) announced that it was commencing a two-year trial of a fast-tracked initial public offering (IPO) process (Fast-Track Process)....more
The Full Federal Court (the Court) has ruled in favour of the Australian Securities and Investments Commissions’ (ASIC) appeal as to whether BPS Financial Pty Ltd (BPS) could rely on the ‘authorised representative’ exemption...more
The Australian Securities & Investments Commission ("ASIC") is increasing its focus on private markets, adopting a similar approach to other international regulators. Following on from its introduction of a dedicated private...more