News & updates
With Australia Post’s announcement that it will no longer guarantee daily delivery of post, but will charge a premium for daily delivery, companies need to consider when they will pay the premium for shareholder communications. Options to consider include whether to pay the premium for capital raisings, dividend mailings (cheques) and general meeting materials.
Assistant Treasurer the Hon Josh Frydenberg MP is expected to present the government's position on superannuation board governance in the coming months. Given recent commentary on the possibility of mandating the appointment of a minimum of one-third independent directors to superannuation fund boards, it is useful to refer to research on this topic. In July 2014 Mercer released a report into the governance arrangements of superannuation funds — the first since APRA introduced new governance standards, including risk management. Mercer surveyed 33 superannuation fund CEOs, fund secretaries and governance, risk and compliance managers and found that more than half of the funds do not currently have independent directors on their trustee boards.
The Financial Reporting Council in the UK (FRC) is to look at the quality of explanations provided by companies that choose not to comply with UK Corporate Governance Code under the ‘comply and explain’ regime.