It’s just another day where one of the Big Four has announced job cuts. KPMG Australia plans to offshore around 200 executive assistants to the Philippines, cutting three-quarters of its EA workforce as advisory demand softens. The move could save ~$17m a year and follows earlier Big Four plays: AFR

⚖️ Employment: Performance management can trigger WHS liability. A Commonwealth department was fined $188k after a worker died by suicide following four performance plans in six months. The court found supervisors weren’t trained to identify psychosocial risk, escalate concerns or pause the process despite visible distress. Regulators stressed that performance systems must be risk-assessed, monitored and adjusted like any other safety control: NRF

⚖️ Regulatory: ASIC recently finalised its measures under the ASIC Corporations (Stablecoin and Wrapped Token Relief) Instrument 2025/867, granting targeted exemptions from AFSL, market, clearing and disclosure rules for eligible stablecoins and wrapped tokens. The final instrument largely mirrors the draft but tightens who qualifies. Issuers must now already hold an AFSL, be an exempt foreign issuer, or have a live AFSL application lodged by 30 June 2026: ASIC

⚖️ Trusts: Trust deeds can switch off automatic disclosure. While Australian courts now treat beneficiary access to trust documents as a presumptive right flowing from an equitable interest, a recent decision shows that entitlement is not absolute. The Victorian Supreme Court held that carefully drafted deed provisions defining trust documents as “assets” (and excluding beneficiary rights in those assets) can displace the proprietary approach entirely. Disclosure instead fell to the court’s supervisory discretion, assessed by reference to factors like document sensitivity, trustee deliberations, confidentiality, burden of production and fairness between beneficiaries: Mills Oakley

Australia is officially too hot to work. The ACTU wants a new national safety standard letting workers stop work in extreme heat, with some unions calling for a 35°C threshold in construction and similar industries. Unions warn climate change is now a core WHS risk, pointing to cases like airport staff fainting on 35°C tarmac: AFR

NSW Labor has tightened school hate speech rules, letting teachers be sanctioned or sacked for comments in or outside class, even without police action. Teachers and civil liberties groups warn the move could chill discussion on Gaza. Premier Minns says it’s about safety but critics say it blurs free speech: Guardian

⛏️ Sanjeev Gupta has rejected a $350m bid for Tahmoor Colliery, despite creditors circling, equipment degrading and regulators warning over water treatment failures. With the mine shut for a year and debts stacked inside the asset, lawyers are watching whether liquidation becomes the only way to force a sale and restart operations: The Australian

💰 Credit Corp defends hush-hush Humm bid. Credit Corp boss Thomas Beregi says the $385m offer for Humm Group was meant to stay confidential, pushing back on claims the board bungled disclosure. Activist Jeremy Raper is circling with a board spill vote and a Takeovers Panel referral, but Beregi says the governance noise doesn’t change the underlying value of the business: Capital Brief