• Losing momentum: WGEA data shows the gender pay gap stands at 20.1% but the number of firms acting to address it is declining

• State Street Global Advisers is set to join Climate Action 100+
• The EU ombudsman has called on the Commission to tighten guidelines following an inquiry into BlackRock's appointment as ESG adviser
  
   

• 'Disappointing': The FRC's review of Corporate Governance Code reporting funds that overall reporting does not meet the FRC's expectations
• Towards simpler, comprehensive sustainability reporting? The SASB and IIRC will merge into a new Value Reporting Foundation
  
   

• Consultation on proposed Listing Rules changes

• Top Story | Draft legislation to implement the proposed Your Future Your Super reform package released for consultation
•  COVID-19: Funds have now paid out $35.3 billion under the government's early release of superannuation scheme
•  Payday loans and consumer leases: Private member introduces the government's own SACC Bill, CALC has called on the government to support it
• APRA is consulting on aligning its capital and reporting frameworks with AASB 17
• COVID-19: Temporary loan deferrals more than halved in October
• LIBOR transition: ASIC has issued guidance on managing conduct risk
• In Brief | Hayne case study: ASIC has commenced proceedings against a big four bank for (allegedly) overcharging customers a total of $2.9m in interest on business overdraft accounts on 12,119 occasions during the period December 2011 and 31 March 2018
• In Brief | Ensuring compliance with prudential standards: APRA has announced it is taking action against a big four bank for breach of liquidity standards.  Though the issues have already been rectified, and though there are no concerns over the bank's liquidity position, the regulator will nevertheless require comprehensive reviews by independent third parties of the bank's compliance and require the bank to apply a 10% weighting to its liquidity coverage ratio until APRA's concerns are addressed
  
   

• Internal audit as 'change agents': ASIC Commissioner Sean Hughes outlines the role internal audit should play in lifting industry standards in the financial services sector
• Stepping up: The Institute of Internal Auditors has issued new guidance to strengthen risk management practices across the financial services sector
• Trends in the evolution of the risk profession: Insights from the Governance Institute

Privacy, Technology and Cybersecurity

• Top Story | Cybersecurity must be a top priority: APRA puts firms on notice
• In Brief | Key challenges for smaller ADIs and mutuals: In his address to the COBA Convention, APRA Deputy Chair John Lonsdale flagged cybersecurity and in particular, managing the risks associated with third party arrangements and separately, recovery planning as two areas where the regulator considers improvement is needed

Other Developments

• Unconscionable conduct: Telco to pay $50m in penalties to settle proceedings for unfair sales tactics

• COVID-19: The Treasurer has welcomed the lower uptake of JobKeeper support as a sign of a stronger than anticipated recovery
• In Brief | Submissions for the 2021-22 Federal Budget are now open.  The due date is 29 January 2021