The ALRC will deliver a simpler legal model to the Attorney General at the end of the month. The recommendations will reflect how the world has changed since 2001 when the Corporations Act was legislated.
When it comes to the sheer scale and pace of change in the development of risk, how we understand it and how to respond to it, in-house legal teams are finding that “the law isn’t being a helpin
Corps Act split would separate companies from consumers: ALRC President professionalplanner.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from professionalplanner.com.au Daily Mail and Mail on Sunday newspapers.
Advisers could be in line for more principles-based regulation according to ALRC president Sarah Derrington, who agreed with a host of global regulatory experts that a balance between principles and prescription is required.
Licensee obligations ‘obscured’ by red tape
Licensee obligations ‘obscured’ by red tape
The government body charged with reviewing the financial services legal system has pointed to “skyrocketing” complexity in the
Corporations Act since it was first introduced, revealing the act is so long it now accounts for 4 per cent of all federal laws in Australia.
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In an industry webinar on Monday, Australian Law Reform Commission legal officer Nicholas Simoes da Silva said in the two decades since the
Corporations Act had been introduced, it had increased in size by around 60 per cent and been amended more than 100 times.