On 25 August 2008, the Australian Securities & Investments Commission ("ASIC") together with the Australian Minister for Superannuation and Corporate Law, executed a Mutual Recognition Arrangement ("MRA") with ASIC's US counterpart, the United States Securities and Exchange Commission ("SEC").

Certain types of foreign investment proposals need to be notified to the FIRB for prior approval or greater scrutiny.

On 12 December 2008 certain parts of the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth) will come into force. The provisions include Division 6 of Part 2 concerning ongoing customer due diligence and Divisions 1 to 4 and Division 6 of Part 3 dealing with reporting obligations.

The decision places a significant limit on the investigative and regulatory powers of the ACMA.

When negotiating parties must be alive to the circumstances in which a right to terminate may occur which will minimise the risk about the validity of any purported termination and it will also reduce the likelihood of parities incurring costs litigating the issue.

Three recent actions indicate that the ACCC is quick to take action if specific product claims cannot be substantiated.

The live-odds gambling advertising issue came to prominence from a perception of excessive advertising of sports betting.

The High Court has handed down its judgment yesterday in the long running TPG Internet case.

The article discusses 6 key recommendations that have been accepted, of potential interest to franchise participants.

ASIC 's RG234 makes it clear that celebrities should not advertise financial products about which they know very little.

In Tabcorp Holdings Ltd v Bowen Investments Pty Ltd, the High Court resolved a 12 year dispute by ordering the tenant to pay the landlord $1,380,000 in damages for altering the building's feature foyer without first obtaining the landlord's consent.

The ACCC released two new consumer guides about product labelling shortly after a related amendment bill was introduced.

An Australian retailer was prevented from selling parallel imported garments bearing the trade mark of the brand owner.

Recently, the Victorian Supreme Court determined that a clause in a labour hire contract providing for payment of an "introduction fee" by an employer to a labour hire company constituted an unreasonable restraint of trade.

In a manner similar to the New South Wales decision in Bessemer, a 2008 decision of the Victorian Court of Appeal relating to a workers compensation claim made by a distributor of a direct selling company raises important issues that direct selling companies need toconsider when drafting distribution agreements. This decision suggests that certaindistributors will be deemed as employees for the purposes of Victorian workers compensation law.

There is significant awareness of the broad powers of the Australian Competition and Consumer Commission ("ACCC") to compulsorily acquire documents and information as part of its investigative powers under the Trade Practices Act (Cth) ("TPA").

The JSCOGR Report is concerned that liberalisation of online wagering would simply expand the problem gambling market.

The Supreme Court of NSW held in Rapid Metal Developments (Aust) Pty Ltd v Rildean Pty Ltd [2009] NSWSC 571 (26 June 2009) that agents for a mortgagee in possession ("controllers") were personally liable to pay rent accruing under an agreement entered into by the failed company prior to the controllers’ appointment. The controllers were also liable for conversion for selling the goods. The controllers took possession of the plaintiff’s scaffolding which had been commingled with scaffolding from

After industry consultation, ASIC released its finalised guidance on prospectus disclosure as Regulatory Guide 228.

Upon commencing business, companies must notify the ATO of the appointment of an Australian-resident public officer.