News & updates

Latest news & updates

A Message from the President: Disclosure of Chief Executive and Board Remuneration

Posted by Andrew Horne, President ICSA Australian Division/Chair Governance Institute of Australia Ltd on 22/09/2017

In the interests of providing greater transparency to members, the Board of Governance Institute of Australia recently decided to provide additional disclosure of the remuneration of our Chief Executive and Directors.

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Is your company affected by ASIC’s cost recovery framework? The answer is yes!


The Australian Securities & Investments Commission (ASIC)’s industry funding legislation came into effect on 1 July 2017 and the new cost recovery framework has been finalised, incorporating changes following industry consultation. This will see ASIC regulated entities receive an annual invoice for ASIC’s regulatory services delivered in the prior year.

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#fixfundraising coalition


The charity sector appears to have won a ‘small victory’ when consumer affairs ministers agreed to clarify that the Australian Consumer Law (ACL) applies to fundraising. The ministers met in Melbourne on 31 August 2017 and issued a statement that: ‘Regulators will issue guidance clarifying the current application of the ACL to the activities of charities, not-for-profit entities and fundraisers’.

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Plans to mandate a modern slavery reporting requirement


The government has released a consultation paper on its proposed model for reporting on modern slavery in supply chains.

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UK moves to bolster corporate governance


The UK government has announced a package of reforms around the setting of executive pay, strengthening stakeholders’ voices and improving the governance of large privately-held businesses.

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Audits find no signs of Wells Fargo misconduct in Australia


Wells Fargo Bank’s illegal practice of opening accounts without customers’ knowledge is not rife in Australia, but improvements should be made in the way consumer credit insurance (CCI) is sold.

That’s the view of the Australian Securities & Investments Commission (ASIC) after reviewing the results of audits by eight Australian banks looking at whether the systemic misconduct uncovered at Wells Fargo was occurring in Australia.

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