Australia: Financial Services

Treasury proposes enhanced data collection for managed investment schemes following recent fund collapses, while ASIC intensifies scrutiny of private credit products through interim stop orders...

When does a high default interest rate cross the line from legitimate compensation to an unenforceable penalty? A recent NSW Supreme Court case examines the principles governing default interest provisions in loan agreements, revealing the critical factors lenders must consider when structuring their interest rate terms. The decision provides essential guidance on what evidence lenders need to justify material increases in default rates and how courts will assess whether such provisions constitute genuine p

A recent Federal Court decision imposing a $10.3M penalty on Mercer Superannuation (Australia) Limited highlights the significant consequences of failing to maintain adequate compliance systems and meet reporting obligations.