Latest news & updates

  • Executive remuneration — progress of legislation


    The Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011 was not passed in the autumn sittings of Parliament. However, the government has indicated its intention that the legislation be in place by 1 July, so it should be passed in the winter sittings which begin on 10 May.

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  • UK — ICSA issues updated guidance on due diligence for new directors


    The Institute of Chartered Secretaries and Administrators (ICSA) has released a new guidance note to prospective directors to perform due diligence on a company before they join its board. This is to ensure that they understand the company and are aware of the time required to allow them to contribute.

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  • UK — Financial Reporting Council consultation on diversity


    The UK Financial Reporting Council (FRC) has asked interested parties for suggestions about how diversity should be represented in the Corporate Governance Code. The consultation is examining whether the Code should be revised to require listed companies to publish their gender diversity policies for boards, and report against it each year, as recommended by the Davies Review and was introduced in Australia in 2010 by the ASX Corporate Governance Council.

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  • Rod Sims nominated as next Chairman of ACCC


    The Treasurer, Wayne Swan, has announced that the government has nominated Rod Sims to take over as Chairman of the Australian Competition & Consumer Commission from Graeme Samuel from 1 August 2011.

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  • Greg Medcraft appointed as Chairman of ASIC


    The Treasurer, Wayne Swan, has announced that the government has recommended to the Governor-General that Greg Medcraft be appointed as the next Chairman of the Australian Securities & Investments Commission (ASIC) to replace Tony D’Aloisio.

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  • New processes for off-market transfers may have implications for company constitutions


    CSA supports the improved security measures that the share registries are introducing in relation to off-market transfers for issuer sponsored holders to ensure a robust system is in place to reduce the risk of fraud. Following recent changes to the ASX Listing Rules, a security validation check will be introduced by the share registries to ensure that the person seeking to transfer the shares is the valid shareholder. A small fee will be charged to shareholders directly by the share registries to carry out the security validation checks.

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