As the dust settles on the staggering corporate collapses of the last financial year, is Australia any closer to narrowing the gap between corporate governance rhetoric and corporate governance best practice asks Chartered Secretaries.
A Corporations Panel that would facilitate a more swift and more effective response to any failure to comply with the Corporations Act heads the list of policy imperatives Australia’s peak body for corporate governance will campaign with the next Federal government.
Hot on the heels of the release of the Companies and Securities Advisory Committee’s (CASAC) discussion paper on insider trading provisions, Australia’s peak body for corporate governance, Chartered Secretaries Australia (CSA) claims the draft FSR Bill provisions don’t
go far enough.
Whilst an overwhelming 75 per cent of corporate Australia believes the Privacy Act should be extended to the private sector, 42 per cent don’t believe they have the systems in place to comply when the legislation comes into effect on 21 December a new survey has found.
Australia’s peak compliance body Chartered Secretaries Australia (CSA) has brought
together a powerful coalition of corporate heavyweights to encourage the government to
modify its proposed ‘square-root’ shareholder participation rules for public companies to
allow for a ‘cap’ of 500 members and a ‘floor’ of 100.
The Australian Stock Exchange (ASX) does not need additional, unnecessary and unwarranted supervision, Australia’s peak body for corporate governance and compliance has told the Senate Inquiry into the framework for Australia’s stock exchanges.