• Say on pay: Approval of say on pay resolutions dips to a five year low

• General Electric sets net-zero by 2050 'ambition' following majority climate vote

• In Brief | BlackRock's voting record for the 12 months to 30 June shows it supported more than twice the number of shareholder proposals than it did in the previous year
• Walking the talk on climate action? New York State Common Retirement Fund outlines its 'unprecedent support for climate actions' during the 2021 proxy season
• Why Blackrock didn't support the shareholder climate proposal at MUFG

Financial Services Royal Commission developments

• Top Story | Consultation on draft legislation to establish the Financial Accountability Regime

• Top Story | Status update: Tracking progress against each of the Hayne Commission's 76 recommendations
• Hayne implementation: Consultation on draft legislation to establish a Compensation Scheme of Last Resort
• Hayne implementation: The government has released ASIC's report into industry's efforts to end payment of grandfathered conflicted remuneration
• Hayne implementation: Consultation on draft regulations proposing to implement deferred sales model class exemptions
• Hayne implementation: ASIC releases reference checking and information sharing protocol
• In Brief | ASIC is consulting on draft guidance to support the implementation of the anti-hawking reforms in Hayne recommendations 3.4 and 4.1 .  The due date for submissions is 17 August 2021.  ASIC plans to release final guidance in September 2021 ahead of the commencement of the reforms on 5 October 2021.  

Other Developments

• Top Story | Why remediation should be purpose-led – and how you can make it happen
• APRA has launched a review of insurers' risk management frameworks
• Retirement Income Covenant position paper released for consultation
• IDR reporting: ASIC releases pilot documents ahead of the commencement of RG 271
• COVID-19: APRA will grant temporary relief to banks for deferred loans
• Consumer Credit - Cigno appeal:  ASIC is seeking judicial clarification from the Full Federal Court on the operation of key obligations under the credit legislation
• Ceres outlines five recommendations to strengthen US financial regulators' collective approach to climate risk
• In Brief | COVID-19: ASIC has released an example record of advice to assist financial advisers when providing advice under the temporary COVID-19 relief measure: ASIC Corporations (COVID-19 - Advice-related Relief) Instrument 2021/268
• In Brief | Eight major insurers and reinsurers have pledged to eliminate greenhouse gas emissions from their underwriting portfolios by 2050 as part of a new Net Zero Insurance Alliance

• FRC data shows challenger audit firms are gaining a toehold in the FTSE 250 audit market

• In Brief | How to audit risk culture: The Institute of Internal Auditors Australia (IIA-Australia) has released a practical ten step practical guide for internal auditors on auditing risk culture

• ASIC has updated INFO 29 to reflect recent insolvency reforms

• Australian Merger Control: Change in uncertain times
• COVID-19: Common employment issues following increased NSW restrictions
• Update: All construction sites to pause in Greater Sydney until 30 July 2021