• Too slow: UK regulators are seeking views on possible options to speed up the increase in diversity in financial services firms
• In Brief | Still one all-male board and virtually no change otherwise:  Bloomberg reports that the percentage of female directorships at S&P/ASX200 companies fell to 33.8% in June (from 33.9% in the previous month).  There is still one company with an all-male board
• In Brief | Well-known and respected business leader Ming Long has been appointed as the Chair of the Diversity Council of Australia, replacing outgoing Chair David Morrison

• Boards 'rose to the challenge'? ACSI's latest CEO pay report finds most companies exercised pay restraint in light of the pandemic
• The COVID-19 effect? UK report finds FTSE 100 executive remuneration fell and despite this, shareholder revolts more than doubled 

• Top Story | Global report finds the level of shareholder activity remains much lower than pre-pandemic levels
• Possible EGM? Premier Investments has reiterated its call for complete board change at Myer
• In Brief | A relatively cheap and effective way to help accelerate climate action? The case for making 'say on climate' shareholder votes mandatory in public companies

• Investors call on banks to 'up the ante' on climate action or face possible voting action in 2022
• Political donations: 125 investors have called on companies to provide full disclosure of their political donations and to take action to stop voter suppression
• In Brief | COVID-19: In light of the NSW COVID-19 lockdown, the ACCR has re-issued its guide for investors on engaging with companies on their workplace COVID-19 safety measures.  The ACCR states that it will be tracking workforce transmission during the NSW outbreak especially in the cleaning, security, aged care, warehousing and retail sectors, and 'will release work site or sector specific briefs if the circumstances arise'
• In Brief | Strengthening stewardship? The UK Department for Work and Pensions has established a new Occupational Pensions Stewardship Council which among other things aims to provide 'opportunities for schemes to collaborate on stewardship activities such as shareholder resolutions, climate change, corporate governance and other topics'.  So far, 28 pension schemes – responsible for more than £550 billion of assets – have already joined.

• Greenwashing review: ASIC calls on boards to make the accuracy of disclosure a priority
• In Brief | The FRC has released a statement of intent on environmental social and governance challenges.  The statement identifies specific challenges for companies and the regulator around sustainability and ESG and outlines the broad approach the FRC intends to take to address them

• Top Story | The FFSP redesign begins
• Status update: Implementation of the 76 Hayne recommendations
• Hayne implementation: Exemptions from the deferred sales model for add-on insurance announced
• Life Insurer to remediate 40,000+ customers by the end of the year
• UK insurer fined £90,688,400 for misleading customer communications and failure to apply promised discounts
• The proposed Northern Australia reinsurance pool: Melbourne University academic suggests there may be a better way to address insurance affordability and accessibility issues
• Preparing for the 'possibility of zero and negative interest rates': APRA seeks feedback on draft expectations
• COVID-19: Loan deferrals among the support measures on offer to customers impacted by COVID-19 lockdowns/recovering from recent lockdowns.
• In Brief | APRA has granted Alex Bank Pty Ltd a licence to operate as a restricted authorised deposit-taking institution and Alex Corporation Limited as a non-operating holding company, under the Banking Act 1959.  IN1Bank Ltd is currently the only other organisation to hold a restricted ADI licence
• In Brief | 'Extraordinary guardrails' lifted: The UK PRA has removed COVID-19 restrictions on shareholder distributions by large UK banks judging them, based on the economic outlook and drawing on the results of recent stress tests, to be no longer necessary
• In Brief | Triennial review of the Terrorism Insurance Act: The government is seeking views on the continued need for the Terrorism Insurance Act to continue and whether the scheme remains appropriate. The deadline for submissions is 30 July 2021
• In Brief | Financial advisers: FASEA has said all candidates who have been unsuccessful at any prior sitting, will be allowed to sit the November 2021 exam

• The FRC has issued three revised audit quality management standards

Climate Risk

• Minister confirms government will appeal landmark climate decision
• The UN has released a first draft 'Paris Agreement' on Biodiversity
• In Brief | MSCI has released its inaugural new Net Zero Tracker, tracking the annual emissions of 9300 publicly listed companies globally (based on the MSCI All Country World Investable Market Index (MSCI ACWI IMI). The key takeaway is that the world's largest companies have less than six years to significantly reduce their emissions if the global temperature risk is to be limited to 1.5C

Conduct risk

• Respect@Work Bill: The Fair Work Commission has requested more time and more resources to implement the proposed changes
• Additional amendments required: The AHRC submission on the Respect@Work Bill recommends 11 changes to the Bill before it's passed
• Respect@Work: Changes to the Fair Work Regulations registered

Cybersecurity, Technology and Privacy

• 184% increase in money lost remote access scams

• In Brief | A 'critical lifeline': The BCA has welcomed the announcement of additional COVID-19 financial support for extended lockdowns stating that it provides all workers and employers with welcome certainty in the event that their own state/territory is forced into a future lockdown.  However, the BCA emphasised the importance of preventing future lockdowns through ramping up vaccination efforts stating, 'as more and more people are vaccinated, National Cabinet should quickly implement the plan to unwind restrictions with clear timelines and achievable targets'

• In Brief | A 'critical lifeline': The BCA has welcomed the announcement of additional government funded COVID-19 financial support for extended lockdowns, but has emphasised the importance of preventing future lockdowns through ramping up vaccination efforts stating, 'as more and more people are vaccinated, National Cabinet should quickly implement the plan to unwind restrictions with clear timelines and achievable targets'