Welcome to the Mackay Chapman Newsletter

Where to begin? The last decade has seen significant regulatory change, with a real impact on businesses and organisations of all sizes, especially with respect to corporate governance and in the financial services sector. Likewise, individuals and professionals face increased regulatory scrutiny and risk.?

With growing weakness in the Australian economy and a robust regulatory response focused on enforcement, the next few years will be challenging to navigate.?

Whatever change occurs, businesses and professionals must position themselves to manage risk and identify upside. The perfect time to start our own LinkedIn newsletter.?

We know it can be difficult to digest every bit of content that comes across your device, email or desk, so we created this newsletter to provide key information to businesses of all sizes and individuals facing regulatory change/risk. You can expect bite-sized, digestible news updates discussing key regulatory developments.

On the MC Blog

ASIC Update?

In this month’s ASIC update - the date for financial adviser registration has been extended, the APS Data Analytics and Visualisation Award 2023 was won by ASIC for its development of an insider trading and detection capability, more solutions to greenwashing, and the Moneysmart service has had over 3.2 million visitors this year.

ACCC Update

In this month’s ACCC update; the federal budget allocated the ACCC $58 million to develop a new National Anti-Scam Centre, The Reject Shop and Dusk are the first retailers to be hit with infringement notices related to new button battery standards, and parents and guardians are urged to participate in the ACCC Parents and Guardians Survey.

APRA Update

This month, recent bank failures overseas and what this means in terms of key regulatory impacts, the APRA quarterly general insurance performance statistics publications have been released for the March 2023 quarter, and new requirements and guidance aimed at strengthening the preparedness of banks, insurers and superannuation funds to respond to a crisis.

Read more here.

Insolvency - what you need to know.

There’s been talk of the upcoming tsunami of insolvency in the construction and building sector for a long time - now it is well and truly underway.?

Whether driven by cost blow outs, fixed-priced contracts, project delays or cancellations, or the impact of interest rate rises, there hasn’t been a more difficult time across the industry since the mid 90’s.

While that might sound melodramatic, the key point for all businesses working in or exposed to the industry is that you need to be prepared for the worst-case scenario. Whether dealing with suppliers, entering into long-term agreements, managing subcontractors, chasing payment or with finance arrangements - the current environment means you need to ensure you are as protected as possible for any eventuality - and can pursue or protect your rights with confidence if anything does go wrong.

“When everything is at stake” isn’t just a meaningless tagline for our firm.

The truth for our clients is that their life savings or livelihood can be on the line.? This is what we specialise in - when everything is at stake.

You may have heard, we are representing victims of Melissa Caddick in court action regarding her estate and investigating potential further claims for them. These investors are caught up in what looks like one of Australia’s longest-running frauds. Friends, family and regular mum and dad investors seeking justice and recompense.

To see our director Michael Chapman’s recent 60 Minute appearance follow the link.

Thanks for reading our first edition of the Mackay Chapman LinkedIn newsletter!?

We’ll see you next time.