McGuireWoods LLP (LexBlog Australia)
3 results for McGuireWoods LLP (LexBlog Australia)
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G7+ Coalition Issues Alert on Russian Oil Price Cap Evasion Methods and How to Report Violations
On February 1, 2024, the G7+ Coalition (consisting of the G7, the European Union, and Australia) published an Oil Price Cap (OPC) Compliance and Enforcement Alert (the “Alert”), identifying notable OPC evasion methods and recommending various methods to reduce the risk of evasion and its negative impacts. The OPC was enacted in December 2022 in...
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Facilitation payments: Australia consults on proposed ban
Section 70.4 of the Criminal Code sets out a defence for facilitation payments, which is inconsistent with the international trend towards the prohibition of such payments and as highlighted in the consultation paper, puts Australian companies at greater risk of being found liable for acting outside the law e.g. where the operations of Australian companies also fall within the scope of the UK...
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Foreign-Cubed Class Actions: The End of an Endangered Species
Last Thursday, in Morrison v. National Australia Bank (slip op.), the Supreme Court held 8-0 (Sotomayor, J. not participating) that “foreign-cubed” class actions (where the plaintiff, the defendant, and the sale of the security are all located outside the US) did not have sufficient ties to the United States to justify invoking US securities laws....