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Australian government consults on class actions, litigation funding

( May 28, 2021, 03:28 GMT | Official Statement) -- MLex Summary: Australian regulations surrounding class actions and litigation funding are the subject of a new government consultation announced today. In a joint statement, Australian Treasurer Josh Frydenberg and Attorney General Michaelia Cash have said the government is seeking feedback on 31 recommendations made in a parliamentary committee report published last year, which called for greater oversight of an industry which it said has seen abnormally high profits among class action law firms and litigation funders. The government has already introduced legislation to update Australian continuous disclosure laws and more closely align national measures with systems in place in the US and UK. A full government response to the parliamentary report is expected this year. The joint statement from the Australian Treasurer and Attorney General follows: ...

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