The Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 passed Parliament last week and received royal assent shortly after.
Welcome to the first edition of Global Asset Management Quarterly. This publication highlights key developments that will be of interest to and affect our asset management clients, including market trends and developments in tax and buy-side regulation globally.
In this issue:
The Court of Justice of the European Union (CJEU) has delivered its decision in A Ltd, a case concerning the location of insured risk, and therefore which jurisdiction can charge IPT, on cross-border M&A insurance policies.
The recent NSW Supreme Court decision in DIF III – Global Co-Investment Fund LP v Babcock & Brown International Pty Limited ruled that section 54 the Insurance Contracts Act 1984 (Cth) (ICA) did not cure a lack of notification of circumstances if those circumstances were not known during the policy period.