On 12 March 2019, the Treasury Laws Amendment (Strengthening Corporate And Financial Sector Penalties) Act 2019 received assent after passing both houses of Parliament. Commencement of most provisions has occurred. Treasury stated that its intention is to arm our financial services regulators with the powers needed to take strong action…
Stephen Watts is a partner in the Melbourne office of Baker McKenzie with over 30 years experience in banking and finance practice, including structured finance and financial regulation and compliance. Stephen is recognised for successfully co-ordinating cross-border transactions and regulatory reviews, and is engaged by many financial institutions and related participants in the finance industry operating in Australia and off-shore.