What made you decide to become a lawyer? Other than the usual desire to argue a point with everyone and shows like Boston Legal (aged very poorly, I know), I like the fact that the law is not actually made up of rigid principles but rather can be moulded to suit particular circumstances, and that’s […]
At a glance On 23 October 2023, the AASB released its Exposure Draft ED SR1 Australian Sustainability Reporting Standards – Disclosure of Climate-related Financial Information to propose climate-related financial disclosure requirements. The Exposure Draft includes two draft Australian Sustainability Reporting Standards relating to financial disclosure. The proposed standards have been developed for the Australian market […]
The short answer to both questions is no – most of the time. In the words of Beach J of the Federal Court, CFDs are “little more than gambling”. ASIC has also identified that more than 70% of retail clients who trade CFDs lose money. For insurers of financial institutions and professional advisors, CFDs create […]
On 21 March, the Treasury released a consultation paper about the regulation of secondary service providers of cryptocurrency assets (CSSPs). The consultation paper highlights the current ‘patchwork’ nature of regulation of crypto assets, noting that some crypto assets may already be subject to the existing Australian Financial Services (AFS) or consumer law frameworks. The paper […]
Conduct and Culture Two – this time its Fire and General The Financial Markets Authority has released its Insurance Conduct and Culture: Fire and General Insurers Update. The report is a key indicator of the regulator’s views of the industry in the context of the suite of regulation that is coming into full force in […]
The expected changes to the UCT legislation are nearly upon us and have now been released in draft form. The purpose of the draft release is to provide a snapshot of the changes if the bill is passed and provide interested parties the opportunity to consult with the Treasury on the same. Given the bill […]
With the recent Kauter Investments decision, the NSW Court of Appeal has provided further guidance on prior notified facts that might give rise to a claim. In this article, W+K’s Charu Stevenson and Yen Tan examine the implications of this decision for insurers and provide a comparative table of previous authorities as a comprehensive guide […]
Regulators in Australia and around the world are treating climate change as a major systemic financial risk. Given the high levels of regulator scrutiny, investor activity and public interest, it is only a matter of time before significant claims (potentially including securities class actions) are brought against directors and officers who fail to properly consider […]
The insurance sector attracts and retains young professionals who are hungry for relevant, regular learning and education opportunities. To help further their careers, W+K has put together a multi-part Emerging Talent Series addressing both Property & Energy and General Liability claims issues.
Welcome to Wotton + Kearney’s NZ Insurance Market Trends Update, our biannual snapshot of legal trends and developments impacting claims managers, underwriters, brokers and corporates operating in the New Zealand market. In this edition, we look at the impact of recent matters in the areas of D&O claims, representative actions and EPL. We provide updates […]
