Australia: Securities

The foreign financial services provider regime introduces three new exemptions and mandatory ASIC notification requirements, commencing April 8, 2027. Firms providing services that touch Australia—even offshore—face timing risks as existing relief expires March 31, 2027. Understanding eligibility pathways and operational readiness for the transition window is now critical for foreign financial services providers.

On 26 June 2026, the Federal Court of Australia delivered judgment in Australian Securities and Investments Commission v Mercer Superannuation (Australia) Limited [2026] FCA 832, ordering Mercer Superannuation (Australia) Limited (MSAL) to pay $10.3 million in penalties and $1.2 million in costs.

The Full Federal Court's decision in Crowley v Worley Limited marks a pivotal shift in Australian securities class action law by endorsing market-based causation and lowering evidentiary thresholds for proving shareholder loss. This landmark ruling, combined with the earlier Brambles decision, fundamentally alters the risk landscape for ASX-listed companies and their insurers.

In New World Resources Limited 02, the Takeovers Panel expressed concerns regarding a proposed placement of shares by a target company to a bidder.

A timely registration on the PPSR can make the difference between protecting your rights as secured creditor or losing priority to, or your goods altogether.

AFSL holders should make sure to include the levy in cash flow projections moving forward to avoid any inadvertent breaches.

The Australian federal government recently issued its response to the "report of the independent review of the changes to the continuous disclosure laws" prepared by Dr Kevin Lewis (Independent Review).

The Australian Competition and Consumer Commission (ACCC) and Australian Securities and Investments Commission (ASIC) continue to be vigilant and seek significant penalties for alleged "greenwashing" (misleading environmental or sustainability claims).

Summary of the current state of the law on the threshold questions as to whether a security interest exists.