KPMG Australia is asking its global network for a bailout: up to $100m in emergency loans to win clients, keep talent, and most importantly, maintain regular partner profit payouts. It’s also asking for a waiver of its $100m-plus annual global levy. Other regions are apparently not keen to pay for the Aussies’ mistakes: AFR

⚖️ Disputes: The Victorian Supreme Court has reaffirmed kompetenz-kompetenz, the principle that an arbitral tribunal decides its own jurisdiction. In Zoo Property Wealth Builder v Australia Red Hill, the respondent opposed an application to appoint an arbitrator, arguing the contract was a forgery or, alternatively, that its director signed it thinking it was something else (non est factum). The Court wouldn’t run a mini-trial, describing its role as “a gateway, not a trial”. Both sides’ experts agreed the signature was genuine, which was enough to show an arbitration agreement existed on its face. The Court ordered the parties to agree on an arbitrator within seven days: Supreme Court of Victoria

⚖️ Corporate: From 4 December 2026, substantial holders will need to disclose economic exposure through derivatives, not just shares they hold directly. ASIC has released a new instrument and guidance showing how deemed economic interests will be calculated. Cash-settled derivatives count at their full notional amount, while index or basket exposures are scaled by the company’s weighting in that index. Small index positions (under 5% of the company and under 30% of the index) can be treated as nil, as can exposures through major or ETF-tracked indices, but those exemptions don’t apply to bidders in a takeover or scheme. Hedging short positions must be reported separately, not netted off: HSF Kramer

⚖️ Property: Treasury has opened consultation on making retail tenancy rules more consistent nationally, as part of the broader National Competition Policy agenda. Right now, a retailer opening identical stores in Melbourne, Sydney and Brisbane may face three different regimes. The same lease can be protected in one state and fall outside the legislation entirely in another. Issues on the table include disclosure, rent reviews, outgoings, assignments and dispute resolution. A single national law is unlikely, but harmonising the core rules could mean simpler templates and faster rollouts. Submissions close 12 October 2026: Treasury, Addisons

Andrew Mountbatten-Windsor is taking Thames Valley Police to court, asking a judge to rule on whether the search warrants behind his February arrest were lawful. He was arrested on suspicion of leaking govt documents to Jeffrey Epstein while he was a trade envoy. It’s the first time a royal has challenged criminal proceedings against them since 1649: ABC News

Property prices have now fallen for 6 straight months and are down 5.2% from their March peak. Auctions are struggling too, with Cotality data putting the preliminary clearance rate at 48.2%, the lowest since June, and volumes down 37.5% on a year ago. The banks think there’s more to come: Westpac tips a 7.3% peak-to-trough fall, CBA says 9% and HSBC 13%: Bloomberg

💰 The ASX has quietly capped listing fees at $8m, just in time for Firmus’ 23 October debut. The old formula would have resulted in more than $18m in fees. The AI data centre operator is raising up to US$5.5bn at a $43.7bn valuation, with about half going to reportedly existing backers Nvidia and Blackstone: Bloomberg

👟 Frasers Group takeover attempt of Accent is becoming more hostile by the day. Frasers wants out of a deal it signed last year forcing it to remove its board nominee if it votes against any board-backed director. With Accent’s entire board up for re-election, Frasers has asked for a waiver. Accent, advised by ABL, has said no: AFR

🏡 Ingenia Communities has let Warburg Pincus into due diligence on its third takeover tilt, at $5.25 cash per security. Warburg wanted four weeks’ exclusivity, a board recommendation and Ingenia to ditch its Peet acquisition. It got none of those — only non-exclusive access: Capital Brief