• In Brief | Elite US-based private firms remain 'incredibly homogenous'? A US study analysing the board composition of 200 of the most heavily funded US based private venture backed companies has identified that women hold just over 7% of board seats, and 60% of these boards include zero women.  By contrast, none of the boards of the S&P 500 companies are all-male 

• No change? BHP has elected to maintain engagement with industry associations, despite pressure from activists to withdraw from certain associations whose climate stance (in their assessment) is at odds with the goals of the Paris Agreement
• In Brief | The FT reports consumer advocacy group, SumOfUs has coordinated a resolution seeking that Apple publicly commit to respect freedom of expression.  The resolution will reportedly be put to Apple shareholders at next year's AGM after Apple lost a bid to have the resolution struck from the agenda.   According to The FT, when Apple faced similar proposals in 2016 and 2018 they drew less than 10% support

• Recent AGM results: Westpac, ANZ, Woolworths, Elders

• Top Story | Government's support of ACCC Digital Platforms Inquiry
• New Zealand | Attitudes to a cashless society? 85% of people agree with the RBNZ's view that people who are financially excluded could be severely negatively impacted if cash becomes difficult to get or use in New Zealand

• Top Story | APRA has formally commenced an investigation into Westpac and imposed a $500m increase in the bank's capital requirements 
• Top Story | FSRC referral: ASIC has commenced proceedings against TAL Life Ltd
• Top Story | ASIC has commenced proceedings against NAB
• NULIS has met the requirements of the additional licence conditions imposed by ASIC 
• FSRC recommendation 1.17 update: APRA to delay the consultation on implementing BEAR product responsibility 
• ASIC has called on the superannuation industry to revisit the way in which life insurance within super is provided to members and focus on delivering better member outcomes
• Eligible rollover funds to release lost super to ATO by June 30 2021?  
• Superannuation fund merger announced: VicSuper and First State Super to merge
• APRA has released an updated prudential standard on banking credit risk management 
• Hints for prospective AFS licence and credit licence applicants? 
• In Brief | ASIC has reminded Australian financial services licensees who have not yet updated the Financial Advisers Register that they need to add new details about their financial advisers by 1 January 2020
• In Brief | Where is the line between general v personal financial product advice? The AFR reports that Westpac has made an application to appeal the decision in Australian Securities and Investment Commission v Westpac Securities Administration Limited [2019] FCAFC 187.  Reportedly, Westpac will allege that 'the court ought to have found that the applicants did not provide personal advice to any relevant customer

• Slightly worse?  ASIC audit inspection report released, ASIC has called on audit firms to accept the need to improve, ensure accountability and ensure strong leadership on the issue of audit quality
• Former Commonwealth auditor general Ian McPhee will reportedly Chair PwC's new external audit quality advisory board
• United Kingdom | The FRC has announced its 2020/21 corporate reporting and audit quality review program for 2020/21
• United Kingdom | Banning (some) non-audit services? The FRC has issued a 'major revision' to its Ethical Standard and revised Auditing Standards

Climate Risk

• The State of New York has lost its case against ExxonMobil
• In Brief | Europe to be the first climate neutral continent by 2050? The European Commission has released the European Green Deal which resets the Commission's commitment to tackling climate and environmental challenges 

Other Developments

• CBA has provided an update on its ongoing review of employee entitlements 
• In Brief | In his keynote address to the Australasian Business Ethics Network Conference, ASIC Commissioner John Price spoke about the importance of culture as a framework for ethical decision making and ASIC's work in promoting strong culture, including the work of the corporate governance taskforce. Mr Price explained that at the heart of the 'work of the corporate governance taskforce is a desire to build understanding and improve current corporate governance practices that can support changes towards a more ethical culture in business decision-making and so enhance trust in our financial system'