Legal Insights

Capital Reductions – A practical guide

Capital Reductions – A practical guide

Capital reductions allow companies to return capital to shareholders or cancel shares, but the process is tightly regulated under the Corporations Act and ASIC. Understanding the approval requirements, creditor protections and ASIC steps is essential to avoid risk.

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ASIC commences landmark proceedings against RI Advice Group Pty Ltd for inadequate cyber security

ASIC commences landmark proceedings against RI Advice Group Pty Ltd for inadequate cyber security

Following multiple cyber-attacks to financial service adviser RI Advice Group Pty Ltd (RI), the Australian Securities and Investments Commission commenced proceedings against RI alleging contravention of its obligations under the Corporations Act 2001 (Cth) (Corporations Act) for failure to have adequate cyber security systems as an Australian Financial Services licence holder.

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