Based on recent polling and the impending Federal election, there is a high probability that the tax measures in the Government’s Federal Budget due to be handed down on 2 April 2019 will be “zombie” measures in the sense that whatever measures the Government announces are at risk of not being enacted as a consequence of a change in government.

On 14 February 2019, the Australian Securities and Investments Commission (ASIC) announced that it is reviewing its guidance on responsible lending conduct, Regulatory Guide 209 Credit licensing: Responsible lending conduct (RG 209).  
While a review of RG209 has been on the cards for some time, the release of Consultation Paper 309 is timely in light of the Royal Commission into the Misconduct in the Banking, Superannuation and Financial Services Industry’s Final Report (RC Final Report), the ACCC’s Residential Mortgage Products Price Inquiry and the (albeit delayed) launch of Open Banking.  
ASIC has released Consultation Paper 309: Update to RG 209 (Consultation Paper) seeking feedback from stakeholders on the proposed updates by 20 May 2019.

Welcome to Edition 101 of Boardroom Brief.

This is a service specifically targeted at the needs of busy non-executive directors. We aim to give you a “heads up” on the things that matter for NEDs in the week ahead – all in two minutes or less.

As Australian-based private fund managers look to scale their operations having tapped their network of family offices and high net wealth individuals, many are looking to Asia and Europe as a source of capital. European investors, in turn, are interested in the typically higher returns available in the Australian market, particularly in the private debt market.

Today, the High Court of Australia handed down its decision on the various appeals brought in relation to the decision the Full Court of the Federal Court in Griffiths v Northern Territory [2007] FCAFC 107 (which itself was an appeal from the first instance decision by Justice Mansfield in Griffiths v Northern Territory of Australia (No 3) [2016] FCA 900). Appeals were brought by the Northern Territory, Commonwealth and the Ngaliwurru and Nungali Peoples in relation to the compensation payable pursuant to section 51 of the Native Title Act 1993 (Cth) (NTA) for the extinguishment of native title.

This is Part Two of our four-part series on the impact of the findings and recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.