In KWM’s 2nd podcast episode of The Review Class Actions in Australia 2023/2024 Eleanor Atkins, Sam Kinsey and Chloe Moore come together to discuss the intersection of restructuring law and class actions - sharing valuable insights on how restructuring processes can be used to manage mass tort liability. 

If you haven't yet read our annual report, ‘The Review: Class Actions in Australia 2023/2024, you can dive into the details here.

Why does Australia’s cybersecurity coordinator think organisations should empower more people to play a role in defending against cyber threats? And what should they do?  Lieutenant General Michelle McGuiness CSC joined KWM’s Cheng Lim in conversation at our Digital Future Summit earlier this year, providing a fascinating insight into how she sees her role:

"My job is to be there to support an entity on their worst day and ensure we can minimise the greatest amount of harm across the greatest number of people."

Key takeaways include: 

1. How doing the ‘simple things’, like implementing multi-factor authentication, updating software and using unique passwords across different systems, will greatly reduce Australia’s vulnerability to sophisticated cyber threats. 
2.  Why cyber security is ‘everyone’s business’ - not just an issue for IT or CISOs.
3. The critical importance of understanding your IT networks and where data is stored in preparing for cyber incidents
4. The importance of communication:  'You can do the best incident response, but if you fail to communicate well, then it probably doesn’t matter in terms of your reputation'

Why is Australia’s corporate regulator cautious on new AI-specific regulation? And, in an age of increasing regulatory influence, what can Chair Joe Longo’s approach reveal about his thinking as a regulatory leader? 

In this conversation with KWM’s Cheng Lim at our Digital Future Summit earlier this year, Joe Longo implored businesses to innovate with AI, without losing sight of their accountability for its use. Business leaders are urged to understand the tech they employ and the regulatory environment that it operates in.

While conscious of AI's potential to create harm, Mr Longo also advocates a careful approach to its regulation - Australia should not rush into introducing new prescriptive rules he says, explaining existing tech-neutral legislation he believes is already applicable.

How does preventing digital harm evolve from ‘whack-a-mole’ action to proactively embedding safety? E-Safety commissioner Julie Inman-Grant explains her thinking to KWM’s Peta Stevenson in this conversation recorded at KWM's Digital Future Summit earlier this year.

How do Australia’s privacy regulators see their roles in amid heightened community awareness and expectations regarding individual privacy rights, driven by technological advancements and increased data-driven business models?

Check out this throwback to Former Information Commissioner Angelene Falk and Privacy Commissioner Carly Kind in conversation with KWM’s Michael Swinson earlier this year - explaining why the OAIC is wary of a 'perfect storm' of risks emerging from data breaches, supply chain vulnerabilities and the rush to harness AI. 

Join Tokyo-based partner Yoshiki Tsurumaki and Perth-based senior associate Richard Shi as they talk about the energy transition in Japan in our latest KWM Podcast.

• What unique challenges does Japan faces in renewable energy due to its geography and infrastructure?
• How have Japan’s energy policies evolved since the 2011 Fukushima nuclear accident?
• What are the growth opportunities in renewable energy and hydrogen technology?
• What does Japan's regulatory environment look like - and what are the incentives for clean energy investments?
• How is the carbon credit market influencing corporate behaviour?

In this the first of 5 conversations with regulators from our 2024 Digital Future Summit, ACCC Chair Gina Cass-Gottlieb tells KWM’s Luke Woodward that consumer trust is the lifeblood of competitive markets for the ACCC.  She explains why the ACCC is prioritising consumer trust and fair competition amidst the rise of digital platforms, with a keen eye on long-term market trends.

Top takeaways:

1. The ACCC supports the government's review of whether Australian Consumer Law adequately covers new technologies like generative AI. Generative AI could lead to misleading and discriminatory behaviour, which the ACCC must address. 
2. The ACCC has built expertise in the digital sector since 2017. This allows it to track key players and trends, focusing on long-term issues rather than short-term distractions.
3. Agility is critical. Businesses quickly adapt their models, and the ACCC must identify potential competition or consumer issues in these changes.
4. Innovation from established digital platforms is welcome – but the ACCC is watching to guard against dominant players limiting rivals' innovation or favouring themselves.
5. The ACCC works with domestic regulators and international competition bodies to share information and monitor developments, like the EU's Digital Services Act and Digital Markets Act.

In this M&A in the City Podcast from KWM, Will Heath is joined by Nicola Charlston, fresh from chairing an M&A committee meeting of the International Bar Association in Tokyo.

Together they discuss:
- What has (finally) lifted the Nikkei back to its pre 1989 crash level
- The drivers behind Japanese M&A 
- The Couche-Tard offer for 7-11
- Japanese bidders going outbound
- Domestic and regional politics' impact on dealmaking
- The market outlook amongst M&A professionals

PLUS Tokyo must do's (and a must drink)!

Look out for a further in-depth look at Japanese M&A in the coming edition of M&A in the City, out soon.

In this King & Wood Mallesons Podcast, Jerome Tse and Meredith Paynter are joined by Wentworth MP Allegra Spender to discuss tax reform's role in driving productivity growth in Australia.

Ms Spender shares insights from her recent Press Club address, making the case for reform to enable productivity improvement as essential to improving living standards and driving economic growth.

Meredith summarises some key findings from King & Wood Mallesons annual Directions survey, including:

• business leaders are focussed on improving profitability and productivity in a charged political environment
• tax reform is viewed as a key opportunity to enhance productivity
• respondents expressed strong support for abolishing inefficient taxes like stamp duty and payroll tax
• better dialogue between businesses and Government are seen as critical to improving the quality of policy-making processes and outcomes

Exploring these findings, the conversation considers how cost of living issues and wedge-politics have contributed to the current dynamic, as well as what can be done to overcome the challenges.

Ms Spender emphasizes the importance of engaging with the community and businesses and discusses her plans for a green paper on tax reform, aimed at fostering broader discussions and collaboration among all stakeholders.

LINKS:
KWM Directions report 2024
Allegra Spender's National Press Club Address:
- Speech
- Slides
Federal MP Allegra Spender on her career from McKinsey to politics (AFR's 15mins with the Boss podcast)

We know a range of zero-emission energy sources and technologies will be critical to reliably and sustainably meet demand through the energy transition. Offshore wind offers efficient and unobtrusive renewable energy, meaning it has the potential to play a significant role in Australia's future energy mix.

This podcast explores that possibility as well as the challenges: The technical, logistical, environmental and social issues offshore wind projects must overcome.

KWM projects partner Rod Smythe is joined by Katie Choi, Asia-Pacific head of legal at Corio generation, a leading global offshore wind developer headquartered in London, as well as Marcus Dixson from Green Giraffe advisory, a dedicated, independent financial advisory firm with an impressive record of guiding clients through the energy transition and in offshore wind’s foundation markets in Europe.