Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 28 JANUARY 2024

Market Intelligence Thought Leadership Award Winner

Full Federal Court clarifies Conflicted Remuneration

Mackay Chapman
Explore more from Mackay Chapman

FFC has clarified the scope of the conflicted remuneration provisions in the Corporations Act in an appeal brought by ASIC.

AustraliaFinance and Banking
Dan Mackay
Dan Mackay
Author LinkedIn connections

The Full Federal Court has clarified the scope of the conflicted remuneration provisions in the Corporations Act in an appeal brought by ASIC.

The Key Takeaways:

  • A revenue sharing arrangement in the distribution of a financial product was a relevant "benefit" within the meaning of the conflicted remuneration provisions.
  • Conflicted remuneration is not limited to payments between "arms-length" entities, and may potentially apply to payments from one entity to another entity within a group of companies.

ASIC appealed the Federal Court judgement in favour of CBA and Colonial First State Investments Limited (Colonial) in a case ASIC brought alleging breaches of the conflicted remuneration provisions.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Australia's Enhanced Substantial Holding Disclosure And Beneficial Ownership Disclosure Regime Comes Into Effect From 4 December

Australian financial markets face a fundamental shift in disclosure requirements from December 2026, as new rules expand substantial holding obligations beyond traditional voting interests to capture derivative positions and economic exposure. Market participants must now navigate complex calculations involving physically settleable derivatives, cash-settled instruments, and offsetting short positions—with no grandfathering for existing holdings.
AustraliaFinance and Banking
K&L Gates
K&L Gates
Article

New Payment Models Face A Broader Licensing Regime

Australia's payment services landscape is undergoing a fundamental regulatory transformation with the introduction of new legislation that shifts focus from specific technologies to the functions and activities performed by payment service providers. The Treasury Laws Amendment Bill 2026 will replace the existing non-cash payment facility framework with a comprehensive licensing regime that distinguishes between payment products and payment services, potentially capturing previously unregulated payment
AustraliaFinance and Banking
McCabes
McCabes
Article

Australia's Updated Financial Innovation Strategy

The Australian Government has unveiled its Financial Innovation Strategy, introducing a new Financial Innovation Committee and overhauling the Enhanced Regulatory Sandbox framework to better support emerging businesses testing innovative financial products. The strategy encompasses reforms across consumer data rights, digital assets, tokenised infrastructure, and regulatory frameworks designed to position Australia as a leader in financial innovation.
AustraliaFinance and Banking
K&L Gates
K&L Gates