Tag Archives: litigation funding

Financial Services in Focus – Issue 30

Funds and financial products

Treasury releases draft Design and Distribution Obligations Regulations

On 12 September, Treasury released for public consultation exposure draft regulations to support the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 (‘Act’) and an exposure draft explanatory statement.

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Financial Services in Focus – Issue 24

Financial markets

ASX releases a revised version of Guidance Note 33 Removal of Entities from the ASX Official List

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Financial Services in Focus – Issue 23

Funds and financial products

ASIC survey of marketplace lending providers

On 12 April, ASIC released Report 617 Survey of marketplace lending providers: 2017–18 and an accompanying infographic.

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Financial Services in Focus – Issue 14

Funds and financial products

ASIC again warns financial firms to join Australian Financial Complaints Authority

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ILN Today Post

Changes to litigation funding and insurance from April 2013

The previous cost rules, which greatly favour claimants, have changed for proceedings issued after April 2013.

Lawyers are allowed to charge a success fee of up to 100% more than their usual hourly rates in the event of success, whilst at the same time agreeing to charge less than normal rates if success is not achieved. In the personal injury market that usually involves complete “no win, no fee” agreements, whereas in commercial matters firms such as Fladgate are willing to act on a “partial conditional fee agreement” involving a success fee of less than 100% in return for a partial discount if success it not achieved. Under England’s cost shifting rules, the success fee was included in the costs which the unsuccessful defendant can be ordered to pay. That cost shifting of the success fee ended in April. More…

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