ASIC is close to approving Cboe Australia’s bid to run its own Aussie listing market, potentially ending the ASX’s decades-long domination. If approved, Cboe could host public floats, increasing competition and luring foreign capital — setting up a competitor to the ASX and giving investors more choice. It’s also expanding the list of approved overseas exchanges, allowing Aussies to trade more freely in Cboe’s US and Canadian markets and the Canadian Securities Exchange, which is eyeing a takeover of the NSX. Combined with new clearing reforms and IPO fast-tracking, it’s a signal: Australia wants to be open for business: ASIC

The NSW Supreme Court recently gave rare guidance on when a bank can validly terminate a customer’s accounts. The Court backed Suncorp’s decision to close a charity’s accounts, finding it acted within its express right to protect its “legitimate interests” – including AML/CTF compliance, risk appetite, and reputational concerns. The bank relied on transaction patterns and public info, didn’t have to prove misconduct, investigate further, or give reasons. Justice Hammerschlag found a decision to end a relationship because the customer was outside the bank’s risk appetite was within its legitimate business needs. His Honour also said an injunction forcing the bank to maintain the relationship would not have been appropriate given the breakdown in trust, ongoing risk concerns, and the fact that the customer had already secured a new bank: Allens

Treasurer Jim Chalmers has backed 8 of 9 Council of Financial Regulators proposals to boost competition by easing rules for smaller lenders. The package includes scrapping some ASIC breach reporting for minor matters, removing the need for annual compliance certificates, and introducing faster approvals for banks with under $10bn in assets. A possible looser APRA regime for very small banks will go to consultation: The Australian

Clayton Utz takes the crown for federal contract spend with $71m. Sparke Helmore scored $66m, Norton Rose Fulbright $47m, and Mills Oakley jumped 6x. A federal panel revamp has made spots scarce but lucrative. But firms like HSF Kramer and Allens are steering clear of gov work to avoid having to cut their rates to join the panel. Check out our full post here.

In a big loss to class action law firms, the High Court has shut down contingency fee schemes outside Victoria, overturning a Federal Court decision and leaving the state as the sole home for the lucrative model. Plaintiff firms are set to ramp up forum shopping to Victoria, while pressure mounts on Canberra to unify the patchwork of rules across jurisdictions: AFR

Freshfields is opening a Saudi Arabia office and formalising its alliance with long-time partner Law Firm of Salah Al-Hejailan. It’s part of a Middle East push that’s already seen it top the region’s H1 M&A tables. The move follows 2023 rule changes letting foreign firms operate directly, sparking a rush of global players into the kingdom’s booming US$1.3tn projects market: Global Legal Post

Harvey is launching an Outlook Add-In, letting lawyers draft, summarise and query straight from their inbox. Now that sounds like a game-changer. It’s part of a push to become the connective tissue of the legal tech stack, with integrations across Word, iManage and Lexis Nexis. The tool drops for beta users in the coming weeks, with general release set for early Q4: Harvey

While Vic Premier Jacinta Allan has hopes and dreams to legislate a WFH right, workplace lawyers are saying it’s likely unconstitutional. Gadens’ George Haros notes the federal Fair Work Act already covers flexible work. That means any state WFH laws could be struck down under section 109 of the Constitution, which knocks out state laws that clash with federal ones: Capital Brief

Giggle for Girls is appealing a landmark ruling that found it indirectly discriminated against transgender woman Roxanne Tickle by banning her from its women-only app. Tickle’s team is now arguing direct discrimination, claiming she was treated like a “hostile invader.” Giggle’s CEO Sall Grover denies knowing Tickle identified as trans, but lawyers say that defence can’t override the Sex Discrimination Act: The Guardian

The NSW Government is racing to expel jailed MP Gareth Ward before Parliament rises this week. Ward, found guilty of sexual assault, won a court injunction to delay the vote. But the Government will challenge it in an urgent Supreme Court hearing on Thursday. The move raises serious constitutional questions about whether courts can stop Parliament's accountability of its own members: The Daily Aus

ASX: really need to get their act together - the exchange just copped another public smackdown after confusing TPG Telecom with private equity giant TPG Capital as the buyer of Infomedia. The fumble wiped $410m off the telco’s market cap in 15 minutes of chaos. Trades were canned, apologies made, and ASIC… yet again… investigating. Infomedia, the actual takeover target, soared 27% while TPG Telecom finished the day down 5%: The Australian

So what’s the actual TPG deal? Glad you asked. Infomedia is being taken private by TPG Capital in a $651m all-cash deal that ends its 25-year ASX run. The $1.72-a-share offer is a 30% premium and comes after 2022's suitors failed to deliver. The software firm, which services BMW and Toyota, says TPG’s no-finance-needed bid offers certainty in a choppy market: AFR

Agnico Eagle and Harmony Gold: are circling Australia’s gold sector, with chatter at Diggers and Dealers that Northern Star’s $25bn empire could be in Agnico’s sights. The Toronto giant, flush after an 80% share price surge and $US300m in quarterly cash returns, is reportedly after a WA hub: The Australian

Rio Tinto plans to cut iron ore workers’ sick leave from 49 days to 12, close to the NES minimum, while offering a $1000 wellbeing payment and up to 12 months’ leave for serious illness at management discretion. The Western Mine Workers Alliance says the unilateral move will pressure FIFO staff to work sick and is fuelling its Pilbara unionisation push: AFR

Justin Langer has quit the Mineral Resources board after 2½ years, citing expanding overseas cricket coaching roles. He’s the fifth director to leave in recent months as new chair Malcolm Bundey overhauls governance following scandals involving founder Chris Ellison. The board now has four members, with two more directors to be recruited: The Australian

HSBC’s retail bank might be on the block, but its focus on corporate and institutional lending is only getting sharper. With $27bn in loans and profits up 80% in 3 years, the bank says Australia remains a key part of its global strategy. While rivals tighten belts, HSBC’s leaning in, betting big on bigger businesses to fuel its next growth chapter: AFR

JPMorgan is closing in on a deal to take over the Apple Card from Goldman, but it wants changes. Top of the list? Ditching Apple’s unusual same-day billing cycle, which it says overwhelms customer service teams. It’s also reportedly wary of higher delinquencies on the card’s $17bn loan book. Looks like servicing this sleek card might be messier than it looks: Finextra

Australia’s national office vacancy rate has climbed to 15.2%, the highest since the mid‑1990s, as new tower supply collides with remote work’s drag on demand. CBD vacancies sit at 14.3%, while suburban markets are weaker at 17.3%. Premium towers remain in demand, but B‑, C‑ and D‑grade buildings are suffering as tenants trade up to higher‑quality space: The Australian

North Sydney could see over $1bn in office sales, with Dexus eyeing a reboot of its 100 Mount Street sale and Francis Choi listing Northpoint Tower for $400m. It follows ISPT’s $230m deal for 100 Pacific Hwy and Keppel circling the CSU campus. Investors are betting the new Victoria Cross metro will revive leasing demand despite vacancy pressure: The Australian

OpenAI is in early talks for a multi‑billion‑dollar secondary share sale at a US$500bn valuation, letting current and former staff sell stock to investors such as Thrive Capital. The deal would mark a two‑thirds jump from its prior US$300bn valuation and help retain talent amid poaching by rivals. It follows a US$8.3bn financing and comes ahead of the launch of GPT‑5: Bloomberg

Back in Aus, Lorikeet has doubled its valuation to $200m in just six months. The Sydney startup raised $54m in a round led by QED Investors, with backing from the Canva founders, Blackbird, Square Peg and Airwallex alumni. Its AI concierge tech, which automates multi-step customer tasks across chat, email and voice, is beating global rivals like Decagon and Intercom in head-to-head trials: AFR