Publication
Minimum wage increase 2023: 5.75%
The Fair Work Commission has approved a 5.75% increase in all award rates and an increase to the national minimum wage, effective 1 July, 2023.
On 27 July 2017, Andrew Bailey, the Chief Executive of the UK Financial Conduct Authority (the FCA) announced that the FCA would no longer compel or persuade banks to make submissions to LIBOR as from the end of 2021.
LIBOR was originally a survey- based benchmark, compiled by panels of banks answering the question “at what rate could you borrow funds were you to do so by asking for and then accepting interbank offers in a reasonable market size just prior to 11am?” However, in the wake of the manipulation scandal, regulators found that there were very few transactions taking place to support some of the currencies and tenors for which LIBOR was published. As such, LIBOR submissions were largely based upon expert judgement rather than transaction data. This led to concerns that LIBOR was unrepresentative and vulnerable to potential manipulation which in turn culminated in a number of criminal actions brought in various jurisdictions around the world.
Our briefing note explains everything you need to know about the transition to risk-free rates including key regulatory issues and challenges concerning IBOR transition.
Recent publications
Publication
Updated EPA Guidance on wastewater to surface water discharges
On 16 May 2023 the Victorian EPA released updated ‘Guidance for environmental and human health risk assessment of wastewater discharges to surface waters’ (EPA Publication 1287.2) (Updated Guidance), replacing the guidelines that were published in 2009 (2009 Guidance).
Publication
Comments on the proposed Voice to Parliament
As part of our pro bono commitment to supporting First Nations people in Australia, this publication provides background information about the proposed First Nations Voice in anticipation of the upcoming referendum, likely taking place later this year.
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