29 July 2004
Welcome to the July edition of Clayton Utz Banking & Financial Services Insights. FSR remains a hot topic and constantly evolving. We'll look at some important developments: the new super calculator and ASIC's policy directions in implementing FSR.
The new draft standard on corporate governance of information and communication technology is a timely recognition of corporate governance's importance, and we'll find out how it will work in practice.
Finally we look at insolvency aspects of CLERP 9 and financial assistance to administrators.
By Randal Dennings and Paul Noonan.
The draft standard is a timely recognition of ICT corporate governance's importance, say Randal Dennings and Paul Noonan, and, after public comment refines it, it will be a useful reference point from which organisations can develop their corporate governance approaches.
By Quentin Solomon, Dan Fitts and Christopher O'Donnell.
While no statutory priority is given to secured lenders who provide financial assistance to administrators, Quentin Solomon, Dan Fitts and Chris O'Donnell discuss ways to ensure such lenders can recover those funds.
By Ron Schaffer.
CLERP 9 was assented to on 30 June 2004 and commenced on 1 July 2004. Ron Schaffer reviews these amendments from an insolvency perspective.
By Graeme Howatson and Randal Dennings.
Graeme Howatson and Randal Dennings discuss ASIC's policy directions in implementing FSR.
By Zein El Hassan and Phillip Turner.
ASIC's new superannuation calculator which will allow consumers to model the effect of significant fees and charges on lump sum retirements. Zein El Hassan and Phillip Turner look at how it works - and how it could be improved.
Learn how you can stay up-to-date in insolvency law.
Randal advises on compliance and the establishment of compliance management systems in various areas of law, particularly those focussing on Financial Services Reform and Corporation Act issues.
