On 5 June 2024, the Federal Court in Australia largely found for ASIC in its case against the trustee of the superannuation fund Active Super (Australian Securities and Investments Commission v LGSS Pty Ltd [2024] FCA 587). The judgment contains important developments in the application of the law of misleading or deceptive conduct to the field of responsible investment and it also challenges certain industry practices.

On 28 March 2024, a landmark judgment was handed down by the Federal Court on greenwashing which looked at the how consumer protection laws are applied to ESG factors. This is a significant development and comes following a period of increased regulatory scrutiny.