Australia Federal Court jurisdiction to cover corporate crime

摘要

AUSTRALIA’S government will provide more than A$35 million in the 2019-20 Budget to expand the country’s Federal Court’s jurisdiction to corporate crime. The expansion and funding will ensure that those who engage in financial sector criminal misconduct are prosecuted and face the appropriate punishment for their actions in a timely manner. The funding will support the appointment of two judges, 11 registry and support staff and the construction of new court facilities for the hearing of criminal proceedings, a joint media release said. Referrals arising out of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and increased enforcement activity as a result of the Australian Securities and Investments Commission’s (ASIC) shift to a ‘why not litigate’ approach are expected to give rise to more criminal prosecutions.