IMPORTANT:
Any advice on this website is general only and should not be relied on as a substitute for legal advice tailored to your situation. imac legal & compliance pty ltd trades as imac legal and as imac compliance. We will always let you know beforehand whether we are acting as a law firm or as a compliance consultancy (and not as a law firm) for a particular matter. You have several rights and protections under the law when we act as a law firm.
Liability limited by a scheme approved under Professional Standards Legislation when providing legal services.
Financial Services Laws Need Overhaul
Australia’s financial services laws needed to be rewritten from scratch in order to eliminate structural problems and complexity, and to integrate recent legislative changes, imac legal & compliance said yesterday. Speaking to financial observer, imac principal and financial services lawyer Ian McDermott said chapter seven of the Corporations Act, which represented the main financial services provisions, was focused on financial products not strategic advice, and this had to change in order for the industry to evolve into a profession.
Read the full article in Financial Observer