If you're a disputes lawyer eyeing a US move, now's the time. Bloomberg reckons we've entered the "Prestige Law" era, where lit boutiques punch in the same weight class as Big Law. Milbank hiked associate pay to US$235k-US$455k on 2 June, and over a dozen firms copied within a fortnight, simply because they're swimming in profits. And it's not just your traditional Big Law firms hiking pay. Litigation boutiques like Susman Godfrey and Wilkinson Stekloff are now paying the big bucks too: Bloomberg

⚖️ Banks: The Federal Court has ordered HSBC Bank Australia to pay a $35m penalty after admitting to serious, systemic failures protecting customers from scams, in one of the first cases of its kind globally. Justice Bennett found HSBC had scam controls on some payment systems but never implemented key controls on its internal transfer system, the very channel where most customer losses actually occurred. HSBC also breached the ePayments Code, taking an average of 144 days to investigate scam reports and failing to apply the Code's loss-allocation rules. ASIC Chair Sarah Court called it the strongest scam wake-up call yet to the banking industry, with HSBC's remediation program already paying out $21.5m in compensation: ASIC

⚖️ Corporate: ASX has released its response to last October's consultation on shareholder approval for dilutive acquisitions and changes in listing status, alongside an exposure draft of the proposed Listing Rule amendments. The headline change is a 25% cap on the share consideration that S&P/ASX 300 companies can use in public takeovers and mergers, beyond which shareholders must vote. The draft also requires approval before a dual-listed entity shifts to Foreign Exempt Listing status, or delists where there's a material Australian shareholder base. Companies can still pre-approve higher caps via constituent documents. Get your submissions on the exposure draft in before 29 July 2026: ASX

⚖️ Disputes: The NSW Court of Appeal has unanimously backed Elecnor Australia in Clough Projects v Elecnor Australia, a dispute arising from Clough's insolvency and the contested transfer of its joint venture interest under a DOCA. The Court confimed that court proceedings can involve more than one "matter" under s 7 of the International Arbitration Act, meaning only part of a dispute may need to be carved off and referred to arbitration. The Court upheld the stay of a contribution cross-claim while letting Elecnor's declaratory court proceedings continue, rejecting arguments that Elecnor had waived or abandoned its arbitration rights by suing first. Gilbert + Tobin acted for Elecnor: G+T

Albanese and Chalmers backed down on the budget's capital gains tax hike. The small business CGT threshold jumps from $2m to $10m turnover, covering 2.7 million businesses, but there's a catch: businesses under $2m get four different CGT concessions, while the newly eligible $2m to $10m bracket only scores one of them — the extra 50% discount. Select Startups land a carveout too, keeping the old 50% discount for owners & employees with shares. Business groups still reckon it's a rushed patch up job: AFR, Capital Brief

The US lifted its naval blockade on Iran and waived sanctions on Tehran, letting Iran sell oil freely again as a preliminary deal to end the war kicks in. Iran's agreed to let the UN's nuclear watchdog inspect its sites. Not everyone's thrilled though, Israel reckons the deal does nothing to curb Iran's missile program: Capital Brief

🏟️ Multiplex, the Wembley Stadium builder, is being sold by Brookfield Business to Japan's Obayashi Corp for US$650m, with US$530m in cash on closing plus an earn-out tied to future performance. The deal, expected to complete in Q4, takes Brookfield's 2026 asset sale proceeds to roughly US$1bn: Bloomberg

🦷 National Dental Care, Crescent Capital Partners’ 100-plus clinic network, is heading to auction for the first time in over a decade, with Morgan Stanley running the process. Backers are chasing a 12x multiple, valuing the deal north of $700m: AFR

🚦 Qube has cleared a major hurdle, with the ACCC waving through Rubik Australia’s $11.6bn buyout led by Macquarie Asset Management. Now FIRB and NZ’s Overseas Investment Office are the final checkpoints: Capital Brief