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With just two weeks before Australia’s new mandatory merger regime goes live on 1 January 2026, Treasury made some significant amendments that narrow the scope of the incoming requirements to notify acquisitions.

On 16 December 2025, ASIC released its updated Regulatory Guide 181 "AFS Licensing: Managing Conflicts of Interest" (RG 181), which was last updated in August 2004. This new update reflects significant developments in the financial services landscape and regulatory framework since 2004, and seeks to provide a more detailed, proscriptive, and fit-for-purpose guide to assist AFS licensees in complying with their legal obligations with regard to conflicts management.

The Takeovers Panel has released a consultation paper proposing amendments to its Guidance Note 4 , which sets out the Panel's general approach to remedies. The revisions reflect a firmer stance on uncooperative conduct by parties and their advisers and are intended to enhance the efficiency and effectiveness of Panel processes.