Regulatory Enforcements & Investigations

Regulatory investigation and enforcement matters are high-stakes and complex, with increasing scrutiny from regulators posing significant risks to organisations. At Clayton Utz, we help clients navigate these challenges with confidence, providing strategic advice and practical solutions to manage these matters.

Our team is trusted by leading organisations across industries to handle complex, large-scale matters, including multi-jurisdictional investigations. With an integrated data analytics capability, we deliver data-driven insights to support our clients.

We help you respond effectively, protect your reputation, and achieve the best possible outcomes.

Commonwealth Bank of Australia Portfolio: We acted for CBA in a strategic capacity across all regulatory investigation and enforcement matters following the Royal Commission, including successfully defending the two ASIC enforcement proceedings which were ultimately pursued against the Bank.

Commonwealth Bank of Australia: Acted for CBA in ASIC's investigation and subsequent enforcement proceedings regarding alleged breaches of conflicted remuneration provisions under the Corporations Act. Our team provided strategic advice on complex regulatory and grandfathering issues, securing a dismissal of ASIC's claims at trial and on appeal. This landmark case clarified the operation of conflicted remuneration provisions in vertically integrated structures.

Commonwealth Bank of Australia: We acted for CBA in defending ASIC's civil penalty proceedings in the Federal Court alleging that CBA charged monthly access fees to almost 1 million customers when it was not contractually entitled to do so, characterised by ASIC as false or misleading representations and a breach of the obligation to act efficiently, honestly and fairly. After managing all aspects of ASIC's investigation over almost two years, including responding to multiple rounds of compulsory notices, we successfully defended the matter at trial, with judgment and costs awarded in CBA's favour. The decision established an important precedent that s 912A(1)(a) of the Corporations Act does not impose an obligation of perfection on AFS licensees.

ASIC: We act for ASIC in court proceedings against Green County Pty Ltd and Max Funding Pty Ltd for alleged unlicensed credit activity and breaches of consumer credit laws. The case involves claims of failing to make reasonable inquiries about loan purposes, resulting in vulnerable consumers being overcharged and denied key protections. Allegations also include a director's breach of duties.

Westpac: We act for Westpac in civil penalty proceedings commenced by ASIC alleging contraventions of financial hardship obligations under the National Consumer Credit Protection Act. The case is likely to make clear ASIC's expectations for systems and processes lenders should have in place for managing hardship requests.

Apple: Advising on general corporate advisory, competition, consumer law, product safety and telco and radiocommunications regulatory matters including telecommunications services arrangements, dealings with the ACCC and other regulators, handling of regulatory investigations and acting for Apple in ACCC enforcement actions and class action claims.

Large superannuation entity: We act for a large superannuation entity in an ASIC enforcement investigation into alleged contraventions arising from the deduction of fees from members' accounts following adviser misconduct. We are advising on the remediation of impacted members and how to position the conduct to avoid enforcement action.

High-profile Insurer: We advise and represent a high-profile insurer in an ASIC investigation, including responses to section 33 and 912C notices concerning potential breaches of obligations to act efficiently, honestly and fairly, and misleading or deceptive conduct provisions. A multi-discipline Clayton Utz team, led by the Commercial Litigation and Insurance teams, continues to undertake a proactive and reactive review of policy documentation, communications with customers, and other internal communications and material.