25 August 2020
LexisNexis launches ASIC Analyser
Visualizing legal cases and legislation to provide meaningful insights to the data-driven legal professionals of the future
SYDNEY, 25 August, 2020 – LexisNexis (www.lexisnexis.com.au), a leading global provider of content-enabled workflow solutions, announced the launch of ASIC Analyser, the latest subscription solution in the expanding Lexis® Legal Analytics suite of products. Integrated with the legal research platform, Lexis Advance®, and powered by the industry-acclaimed case citator, CaseBase® Case Citator, ASIC Analyser empowers law firms and corporations to quickly and easily uncover new insights from litigation involving the Australian Securities & Investments Commission.
With the launch and evolution of the Lexis® Legal Analytics suite, LexisNexis has taken an important step toward clearer data and better decision-making for local legal practitioners. Combining a vast historical database of content, teams of legal editors with local expertise and an analytics infrastructure powered by cutting-edge technology, Lexis® Legal Analytics help law firms, corporate teams, courts and government departments identify new and crucial insights to make smarter evidence-based decisions and shape litigation strategy.
After the launch of the ACCC Analyser in 2019, LexisNexis reached out to customers to understand where cutting-edge tools and rich data were needed to help bring clarity to litigation risks and commercial impacts. Consultation with the market highlighted a desire for improved insight into the real-world impact of ASIC’s strategic enforcement priorities that are laid out at the beginning of each year. ASIC has also recently released an interim corporate plan1 with priorities identified to address the impact of COVID-19 on the financial system.
ASIC Analyser will help closely monitor new litigation and assess how widely these priorities will impact everyday business.
In addition to its strategic enforcement priorities, ASIC monitors and enforces compliance and regulations in the financial system. In one of its most recent enquiries2, ASIC has been working with the Treasury to ensure litigation funders hold an Australian financial services license and comply with the managed investment scheme regime from 22 August 2020, this in turn will become a priority for ASIC to administer as soon as it takes effect. Financial services providers need to be cognizant of such changes to adhere to compliance and regulation guidelines.
Greater media scrutiny, increasingly negative sentiment and tightening regulation were making it harder for this sector before COVID-19 struck. To hold the line in this climate, let alone achieve growth, the industry needs to innovate with care. More than ever, lawyers must engage as business partners to assess and articulate risk for their stakeholders. Shaping commercial strategy to drive growth will require the provision of practical and lucid legal advice aimed at fostering new, compliant, endeavours. Clear-cut data and intuitive tools remain vital for avoiding existing dangers and staying within tested limits; the unprecedented power and crisp insight delivered by Legal Analytics elevates the playing field for counsel tackling the questions posed by true innovation.
ASIC Analyser mines litigation data to provide meaningful and actionable insights into enforcement trends and the range of penalties that materialise in ASIC cases. Using Analyser, practitioners can:
- quickly and easily get to the facts on outcomes, penalties and costs;
- keep abreast of the risks to senior management from possible breaches;
- monitor the players and delve into the relationships between specific entities;
- deliver robust advice to clients on their strategic options; and
- extract key summaries to support litigation planning, thought leadership and business development.
LexisNexis Pacific’s Managing Director Greg Dickason sees Legal Analytics as a key step in advising clients on the most appropriate course of action in a case. “Understanding past courses of action, their success rate, and overall risk is an important part of the advice legal practitioners provide to clients. Analytics products such as the ASIC Analyser are key to delivering this advice. They need the deep data and data linkages that only LexisNexis can provide.”
ASIC Analyser and ACCC Analyser are LexisNexis products and are not affiliated with or endorsed by the Australian Securities & Investments Commission or Australian Competition & Consumer Commission.
For more information, please visit https://www.lexisnexis.com.au/en/products-and-services/legal-analytics or call 1800 772 772.
1 Interim corporate plan, https://asic.gov.au/about-asic/corporate-publications/asic-corporate-plan/#interim
2 Parliamentary Joint Committee on Corporations and Financial Services Inquiry into litigation funding and the regulation of the class action industry, https://asic.gov.au/about-asic/news-centre/speeches/parliamentary-joint-committee-on-corporations-and-financial-services-inquiry-into-litigation-funding-and-the-regulation-of-the-class-action-industry/
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