08.02.2024

FAQs: The Legislative Data Framework

Over the past few years, the ALRC used pioneering data collection and analysis to scrutinise corporations and financial services legislation. Using legislative data, the ALRC was able to show just how complex corporations and financial services legislation is. The ALRC also used that data when developing reforms. This article aims to answer some of the

News/Media Release

Read more
06.02.2024

FAQs: The FSL Schedule

This article answers some of the (hypothetically) frequently asked questions about the Financial Services Law Schedule (the ‘FSL Schedule’) recommended by the ALRC. Implementing two of the ALRC’s recommendations would produce the FSL Schedule: creating the Financial Services Law by restructuring and reframing the financial services provisions within Chapter 7 of the Corporations Act 2001

News/Media Release

Read more
01.02.2024

The ALRC’s Roadmap to Implementation

Throughout the Corporations and Financial Services Legislation Inquiry, stakeholders emphasised the importance of staging the implementation of reforms and managing transition costs. This article explains the ALRC’s suggested approach for implementing the reformed legislative framework for financial services. This is the fourth in a series of short pieces following the release of the ALRC’s Final

News/Media Release

Read more
30.01.2024

Excavating Corporations and Financial Services Legislation

The ALRC used a number of analogies during the Corporations and Financial Services Legislation Inquiry to help explain our discoveries and conceptualise our insights about legislative complexity. We likened the law to a house, a cupboard, Russian dolls, and even outer space. Looking back, it often felt like we were on an archaeological dig, excavating layers of complexity

News/Media Release

Read more
25.01.2024

The Reformed Legislative Framework: A how-to guide

The existing legislative framework for financial services is unnecessarily complex and difficult to use. So how should it be improved? This article briefly explores the reformed legislative framework for financial services legislation recommended by the ALRC in the Final Report of the Corporations and Financial Services Legislation Inquiry. It also illustrates the benefits of the

News/Media Release

Read more
23.01.2024

The FSL Journey

Last week, the Final Report of the ALRC’s Corporations and Financial Services Inquiry was published. The Final Report laid out the results of three years’ work examining why the law is so complex and setting out how it should be reformed. In this article, we describe the ALRC’s journey from the Inquiry’s genesis through to

News/Media Release

Read more
18.01.2024

ALRC recommends confronting complexity in corporations and financial services legislation

Today the Australian Law Reform Commission report, Confronting Complexity: Reforming Corporations and Financial Services Legislation (ALRC Report 141), was tabled in Parliament by the Attorney-General of Australia, the Hon Mark Dreyfus KC.

News/Media Release

Read more
29.11.2023

The regulatory challenges of evolving technology and financial services law

Author: Dr Vannessa Ho As the ALRC’s Financial Services Legislation Inquiry reaches its conclusion, it pays to look to the future. In an ever-evolving technological landscape, what will be the next challenge for financial services law? This article explores some recent innovations and the regulatory challenges they (and similar future developments) pose in the context

News/Media Release

Read more
14.09.2023

Should we use emojis in legislative drafting?

Author: Jane Hall Emojis are ubiquitous in modern communication. In 2021, Unicode reported that 92% of the world’s online population use emojis. Emojipedia estimates that over 900 million emojis are sent each day without text on Facebook Messenger, and that by mid-2015, half of all comments on Instagram included an emoji. Given how frequently we

News/Media Release

Read more
12.09.2023

Consumer Experiences in Financial Services: A Research Survey Collaboration

Data collection and analysis have been crucial in the ALRC’s inquiry into the legislative framework for corporations and financial services regulation. During the Inquiry, the ALRC partnered with leading academics and consumer advocacy group CHOICE to commission survey research of consumer understandings and experiences with financial services and the legislative framework for their regulation. The

News/Media Release

Read more