Few insurers in Hong Kong provide liability insurance for directors and officers of SPACs. Those that do charge premiums up to five times higher than for traditional IPOs.
February 17, 2022The class action alleges ANZ contravened the ASIC Act by charging retrospective interest and interest on purchases that were paid off in a timely manner.
December 9, 2021Kangmei Pharmaceutical, its executives and auditors will be held fully liable for CNY 2.5bn of investor losses in China's first ever class action against corporate fraud.
November 18, 2021Legislation was introduced to establish the FAR and CSLR. Separate bills were introduced to improve the superannuation system and outcomes for litigation funding participants.
November 6, 2021The class action reportedly involves interest and fees ANZ and ASB were not entitled to charge due to breaches of their disclosure obligations.
October 5, 2021Coordinated efforts will be made to unify access arrangements for foreign institutional investors and streamline requirements on the management of cross-border capital.
August 19, 2021The amendments allow FIs to carry out ACIP on a customer after an account is opened, provided the initial deposit is the only transaction made at opening.
July 31, 2021ASIC proposes to grant relief from the equal treatment duty to enable the effective distribution of a resolution sum obtained in a class action.
July 18, 2021Companies that have personal information of more than 1 million users must submit to a cybersecurity review by the Office of Cybersecurity Review.
July 14, 2021The government will consider capping fees and the introduction of a minimum rate of return for class action members.
June 3, 2021