News Update
Month: Sep
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Regaining trust in a post royal commission world
Read moreThe victims at the heart of the cases raised at the Hayne royal commission might consider it an understatement to conclude there is a need for greater levels of professionalism in the financial services sector. Indeed, as the results of our recent Ethics Index show, there is much work to do if the financial services sector is to regain the trust of its customers.
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Draft legislation to combat illegal phoenixing released
Read moreThe government has released draft legislation for consultation aimed at deterring and disrupting illegal phoenixing and punishing those involved in this behaviour more harshly. Phoenixing occurs when the controllers of a company strip the company's assets and transfer them to another company to avoid paying taxes, creditors and employee entitlements.
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ASIC gives ABA’s new banking code the green light
Read moreAustralian banks are about to begin training around 130,000 staff around the country and updating their systems to comply with a new Banking Code of Practice. This follows the recent approval of the Australian Banking Association’s (ABA’s) new code by the Australian Securities and Investments Commission (ASIC).
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Treasury’s insights into banking misconduct
Read moreA Treasury submission contains an interesting analysis of regulatory changes that could be made in the wake of the spate of misconduct and corporate governance failings emerging before the Financial Services Royal Commission.
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Futureproofing yourself and your organisation from IT advances
Read moreA new report warns how new technologies such as artificial intelligence (AI), machine learning and robotics are about to disrupt the roles of company secretaries and governance professionals.
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ACNC review calls for fundraising reform and more harmonisation
Read moreThe Australian Charities and Not-for-profits Commission (ACNC) legislation review has called for fundraising reform and a single national scheme for the charity sector, requiring a referral of powers from the states to the commonwealth.
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