Minter Ellison's popular report on the fundamentals of doing business in Australia.
Minter Ellison has one of the most specialised and largest financial services practices in Australia, with clients spanning the full spectrum of the financial services industry. Our financial services team provides our clients with a seamless service across all aspects of their financial services requirements. Our team works with industry participants from retail insurance and funds management (including master trusts, superannuation, life products and ‘wrap’ accounts) to wholesale funds used as investment vehicles in a range of industry sectors. We also have substantial experience and understanding of financial product advice and distribution, whether through aligned dealer groups or the open market channel. Our team includes experts on financial services regulatory issues, fund establishment and operation, fund investments, compliance, insurance advisory as well as experienced corporate lawyers providing M&A, corporate reconstruction and takeover-related advice. We are at the forefront of market developments and opportunities and their impacts on our clients through active participation in industry bodies such as the Financial Services Council and the Association of Superannuation Funds of Australia. We also play an active role in regulatory change through lobbying the government on the impact of proposed changes.
The report by Mr Richard St John into compensation arrangements for consumers of financial services, released on 8 May 2012, has recommended the consideration of key reforms which could have a significant impact on the financial sector. We analyse the report and discuss its key recommendations and their implications for licensees, product issuers and consumers.
On 10 November 2011, ASIC issued Regulatory Guide 228: Prospectuses: Effective disclosure for retail investors (RG 228) to addresses previous issues with prospectus disclosure, especially the need to provide retail investors with relevant information in a form that can be readily understood. This Alert highlights the key elements of RG 228.
Minter Ellison has made a submission to Treasury on the Exposure Draft - Corporations Amendment (Future of Financial Advice) Bill 2011. The submission provides comments on issues such as the conflicted remuneration prohibition, anti-avoidance, on-going fee arrangements and grandfathering.
Minter Ellison has made a submission to Treasury on the likely impacts of key provisions of the Draft Corporations Amendment (Future of Financial Advice) Bill 2011.