News & Insights

Australian Treasury Issues 2023 Consultation on Climate Financial Disclosures

by Leela|4 September 2023|Our Thinking

On 27 June 2023, the Australian Treasury issued a second consultation paper titled “Climate-related financial disclosure”. This release builds upon a prior consultation and is in line with the Australian Government’s dedication to creating standardised and internationally aligned reporting requirements for businesses to disclose governance, strategy, risk management, targets, and metrics. Large businesses may need […]

Australian Treasury Releases Consultation on Exemptions for Foreign Financial Services Providers

by Leela|29 August 2023|Our Thinking

On 7 August 2023, The Australian Treasury released an exposure draft. This draft invites stakeholders to participate in a consultation process regarding proposed exemptions for Australian Financial Services Licences that would apply to foreign financial services providers (“FFSPs“). This initiative follows a prior consultation which lapsed in 2022 due to governmental changes. The exposure draft […]

Cleveland & Co shortlisted for Strategic Legal Operations Team of the Year at the British Legal Awards 2023

by Leela|25 August 2023|Awards

We are thrilled to announce that Cleveland & Co has been selected as a finalist for Strategic Legal Operations Team of the Year at The British Legal Awards 2023! These prestigious, premier legal awards represent ‘the best of the best’ within the UK’s legal community and celebrate excellence and innovation across the legal landscape. Cleveland […]

UK Law Commission’s Final Report on Digital Assets

by Leela|24 August 2023|Our Thinking

On 28 June 2023, the UK Law Commission (the “Commission“) issued a Final Report on Digital Assets (the “Report“), providing high level recommendations on how digital assets should be categorised and regulated after receiving public input from a consultation held in 2022. The Commission stated that while the common law framework covers the uprising of […]

Australia’s Position on Regulating Artificial Intelligence

by Leela|15 August 2023|Our Thinking

Artificial intelligence (“AI“) is rapidly growing and bringing positive changes to various aspects of life, but concerns regarding potential risks are also emerging. The Australian government has been prioritising ethical considerations while advancing technology and AI for years. In 2022, the Department of Industry, Science, and Resources of the Australian Government (“the Department“) sought public […]

Reminder: SEC Marketing Rule for investment advisors

by Leela|14 August 2023|Our Thinking

As a reminder, the Securities and Exchange Commission introduced regulations overseeing the advertising practices of investment advisors, mandating compliance by November 2022. Firms must ensure… Please click here to follow us on LinkedIn to receive the latest information on this and other important topics!

Emma Cleveland shortlisted for Legal Advisor of the Year award

by Leela|10 August 2023|Awards

We are delighted to share that Emma Cleveland has been shortlisted for Legal Advisor of the Year at the Women in Finance Awards 2023! These prestigious awards shine a spotlight on the outstanding achievements of women professionals within the financial services sector. Our commitment to diversity is a cornerstone of Cleveland & Co’s strategic vision, and […]

Modern Slavery Act – Review 2023

by Leela|9 August 2023|Our Thinking

On 25 May 2023, the Attorney-General’s Department released the outcomes of the statutory review (“the Review“) of the Australian Modern Slavery Act 2018 (Cth). The Review focuses on reinforcing Australia’s efforts to combat modern slavery, in accordance with the United Nations Guiding Principles on Business and Human Rights. The proposed changes, if observed… Please click […]

APRA’s Reminder on Information Security Requirements

by Leela|8 August 2023|Our Thinking

The Australian Prudential Regulation Authority (“APRA“) has published a newsletter highlighting the importance of placing focus on cyber security while conducting independent tripartite cyber assessments on its regulated entities. These assessments are aimed at ensuring that these entities have the necessary infrastructure to effectively withstand cyberattacks and security threats. Although currently evaluating approximately 300 banks, […]

APRA’S Proposal on Operational Risk Management Requirements Updates

by Leela|7 August 2023|Our Thinking

On 17 July 2023, the Australian Prudential Regulation Authority (“APRA“) released the Prudential Standard CPS 230 for Operational Risk Management (“CPS 230“), along with a consultation draft of the Practice Guide CPG 230 for Operational Risk Management. The main objective of CPS 230 is to minimise disruptions to critical operations by mandating that organisations establish […]