AFR Magazine’s deep dive on Danny Gilbert confirms what the industry gossips about: the G+T founder, 75, plans to stick around into his 90s. No real succession plan exists since Tim Gordon defected to Corrs last year. Partners are drawing RBG comparisons, who also refused to retire and passed away while on the bench: AFR

⚖️ Regulatory: ASIC has unveiled its corporate plan under new chair Sarah Court, flagging five priorities: consumer and small business protection, tougher consequences for professional conduct breaches, retirement outcomes and super, financial markets and services, and public/private markets. On AI, ASIC's zeroing in on how banks use the tech to identify consumer harm, while building its own AI and cyber capability to catch misconduct earlier and act more decisively. ASIC wants to be 'easier to deal with, and harder to avoid', built on three pillars: being more responsive, investing in earlier detection and prevention, and setting clearer expectations backed by targeted interventions and stronger consequences: ASIC

⚖️ Mining: G+T's metals and mining update breaks down what's really driving Australia's resources sector right now: geopolitics, processing and capital discipline, not just commodity prices. Gold exports are set to hit around $73bn in 2026-27, copper demand is climbing thanks to electrification, and lithium prices remain shaky despite a recent rebound. The federal government's new Critical Minerals Production Tax Incentive will offer miners a 10% tax offset on processing costs from 2027, part of a broader push to get Australia refining more minerals onshore instead of just exporting raw material. Consolidation is also creeping back in, with Rio Tinto and BHP exploring a tie-up on their neighbouring Pilbara iron ore operations: Gilbert + Tobin

⚖️ Corporate: The Victorian Court of Appeal, in Shakespeare Partners v Transonic Travel, confirmed accountants can be liable as accessories under the ACL even without knowing the exact size of a financial shortfall. Turning a blind eye to unreliable systems is enough. Shakespeare Partners kept preparing financials and helping with due diligence despite knowing its client's account records were unreliable, and its disclaimers didn't save it. The court also confirmed accessories can rely on proportionate liability, splitting blame 40/60 between Shakespeare and the vendor. Due diligence needs to test the systems generating the numbers, not just the numbers themselves: Hall & Wilcox

Last morning of Legora's takeover at Toby's Estate, 25 Martin Pl, Sydney CBD. If you haven't made it by yet, today's the one. Coffee and matcha, chai on us as always, and the Legora team on hand if you want to talk shop.

Today from 8:30am to 11am

Claim your coffee (URL) - We'll email you a QR code.

Learn more about Legora here.

Meta will pay up to $23.3bn to settle US state claims that it designed Facebook and Instagram to be addictive to kids, agreeing to new safeguards including scrolling time limits and locked-in safety settings for teens. It's a fraction of the $1.95tn states were chasing, and Meta still denies wrongdoing: Capital Brief

The Albo government has cut the annual refugee intake by a third, from 20,000 down to 13,750. It's a sharp reversal of Labor's 2015 promise to lift the intake to 27,000 by 2025. It also comes as Home Affairs Ministers Tony Burke pushes cabinet to cut net migration to 225,000 next financial year: AFR

💰 Mallesons is running the sell-side on Steadfast Group's $7.7bn take-private, up against Gilbert + Tobin and Ropes & Gray for buyers KKR and Dragoneer, and Ashurst Perkins Coie for Amwins. It's the biggest cash M&A deal for an Aussie financial services company: Point Blank

🚗 FleetPartners is the popular kid in town, landing its fourth suitor in under a month. A consortium led by Japan's Sumitomo Corp has tabled an $813.1m offer for the vehicle leasing firm: Reuters

👟 Frasers Group is turning up the heat on Accent Group, with CFO Chris Wootton firing off a letter demanding chairman Lawrence Myers quit after Accent's flat FY26 results. Frasers holds 22.9% and has a zero-premium 65c-a-share bid on the table: AFR