The US FTC has warned 42 Big Law firms that coordinated DEI hiring metrics may be anticompetitive, saying they can “distort competition for labor” across hiring, pay and promotions. With Trump-era scrutiny back, the question is whether HSF Kramer, Ashurst and A&O Shearman, all tied to US mergers, will quietly wind back DEI settings: Reuters

⚖️ Legal Privilege: The SA Supreme Court held that an interview transcript and related legal files were protected by joint legal professional privilege held by the Salesians and their insurer. Privilege was not waived even though the insurer had produced the transcript in earlier Victorian proceedings without claiming privilege (and without the Salesians’ knowledge). Because the lawyers were acting for both insurer and insured to obtain legal advice, a waiver required both holders’ consent. Mere loss of confidentiality elsewhere, or denying knowledge in pleadings, was not enough to force production.

⚖️ Penalty: The Federal Court has slugged BPS Financial Pty Ltd with $14m in penalties over its Qoin Wallet crypto product, following findings of years of unlicensed conduct and misleading statements. The case stems from ASIC action that proved BPS promoted and advised on Qoin without an AFSL, and overstated key features of the product. The Court imposed $2m for unlicensed conduct, $12m for misleading conduct, banned BPS from operating without a licence for 10 years, ordered adverse publicity notices, and restrained future claims about Qoin’s approval, holders and convertibility: ASIC

⚖️ Employment: Mental injury claims are rising fast and cost more than physical injuries. There’s been a 37% increase in mental health comp claims between 2017-18 and 2021-22, now making up 9% of all serious comp claims. The Fair Work Commission upheld a dismissal where false complaints created psychosocial risk, while SafeWork NSW halted restructures at University of Technology Sydney and issued notices to Macquarie University over unmanaged psychological harm. Manage psychosocial risks under the WHS regime, covering work design, workloads and behaviours like bullying or harassment: Holding Redlich

A fresh US Justice Department dump of 3m+ Epstein files names Kevin Rudd, Clive Palmer, Katherine Keating and Andrew Forrest in diaries and emails. There’s no allegation of wrongdoing against the Australians, with most references passing or proposed introductions that never happened. Still, the scale of the release is reigniting scrutiny of who crossed Epstein’s orbit: AFR

Luigi Mangione won’t face the death penalty after a US judge ditched the federal murder charge. Federal law requires Mangione’s murder charge to be tied to another crime of violence and the judge found that stalking isn’t inherently violent or always intentional. Mangione still faces a separate New York murder case: Reuters

🤑 Australian United Investment Company has struck an all-scrip deal to acquire rival Diversified United Investment. DUI holders will receive ~0.4815 AUI shares. The post-merger vehicle would control a portfolio of more than $3bn. HSF Kramer is advising AUI: ASX

⏰ Merger talks between Rio Tinto and Glencore are likely to be extended beyond the February 5 UK deadline, with sources describing momentum as hot and cold. An extension would signal no fatal flaw has emerged yet, but price, structure and Glencore’s copper pipeline remain the sticking points: AFR