• COVID-19: Governance Institute survey finds there is a high level of uncertainty around about exactly what the impacts of COVID-19 will be, but that workplaces are already transforming
• COVID-19: The chorus of calls to modernise existing laws is getting louder: A 'coalition of associations' including the ABA have called on the government to make temporary changes permanent
• The UK citizen's climate assembly strongly supports a green COVID-19 recovery plan, six House of Commons Committee Chairs have written to the Prime Minister asking that he take the Assembly's views into account in the pandemic recovery planning process

• No excuses left for lack of action to improve (gender) diversity in leadership? WGEA study finds an increased proportion of women in leadership roles delivers stronger financial performance
• Global report finds that the business case for diversity continues to build
• A broader approach to diversity: ISS data has identified that the majority of companies globally now disclose diversity strategies/policies that include commitments to promote diversity beyond gender

• APRA delegates power to ASIC to conduct BEAR investigation
• United Kingdom | CMA Chair Andrew Tyrie will step down from his role in September, to focus on driving reform from outside the limits of the Chair role
•  In Brief | APRA funding Bills update: The package of seven Bills proposing to enable the Commonwealth to recover the costs of a wider range of APRA's activities from prudentially regulated entities, and to increase the statutory upper limit from $1.5m to $10m, received Assent on 19 June and are now in force
• In Brief | ASIC has released a report - ASIC Report 664: Overview of decisions on relief applications - outlining ASIC's work in reducing 'red tape'.  ASIC says that the reporting of its decisions on relief applications is intended to both provide transparency around ASIC's decision making and to better inform businesses about the circumstances in which relief will be granted
• In Brief | HM Treasury has announced the appointment of Nikhil Rathi (current London Stock Exchange CEO) to the role of CEO of the Financial Conduct Authority for a five year term.  Interim CEO Christopher Woolard will continue to serve in the role until Mr Rathi's appointment commences

• Investors take a stand against racism: A coalition of 128 institutional investors (so far) have committed to addressing systemic racism through their portfolios, engagements and policy
• In Brief | The tenth edition of Global Impact Investing Networks' annual survey highlights the growth in the sector over the past decade – the size of the impact investing market is now estimated to be US $715bn – and the growing sophistication of the sector over time.  The report suggests that the current crisis is an opportunity for the sector to continue to expand and support the recovery

• Top Story | ASIC maintains a high level, flexible approach to the product intervention power
• FSRC referral: ASIC has commenced proceedings against CBA and CFSIL
• COVID-19: Early release of superannuation scheme:  The ATO says it has observed some instances of 'people doing the wrong thing' and is investigating
• COVID-19: So far funds have paid out $15.9bn under the government's early release of superannuation scheme
• COVID-19: Peak accounting and tax practitioner professional bodies have called on the government to rethink aspects of the Superannuation Guarantee Amnesty in light of the disruption caused by the pandemic'
• Best interests duty for mortgage brokers: ASIC guidance released
• 'Expelled from membership of AFCA': AFCA has published the details of 680 financial firms wo have not paid their AFCA membership levy
• In Brief | Open Banking consultation: The ACCC has released draft rules and an accompanying draft Privacy Impact Assessment outlining the proposed combined accredited person (CAP) arrangement which will enable accredited persons to use other accredited third parties to collect CDR data on their behalf.  The due date for submissions is 20 July 2020 20
• The Greens have introduced a Bill proposing to ban electoral donations from certain sectors including banks

Climate risk

• Top Story | Top five considerations for meaningful climate-related corporate governance
• The MCA has released a climate action plan endorsing the goals of the Paris Agreement, the ACCR has questioned whether it is sufficiently detailed to achieve change and satisfy investors

Cybersecurity, privacy and technology

• Australian organisations are being targeted by a 'sophisticated state based cyber actor', the Prime Minister has flagged that the new cybersecurity strategy will include increased investment
• Crypto-asset scams on the rise: ASIC flags a 20% uptick in misconduct in connection with 'crypto scams'
• Australians lost $634+ million to scams in 2019:  ACCC report finds that the cost of scams has increased by 34% on 2018 levels
• In Brief | Australia has joined a global partnership on AI: On 16 June Minister for Industry, Science and Technology Karen Andrews announced that Australia has joined Canada, the EU, Germany, France, India, Italy, Japan, New Zealand, the Republic of Korea, Singapore, Slovenia, the UK, and the US as a founding member of the  Global Partnership on Artificial Intelligence, which she described as 'the world’s first multilateral forum dedicated to AI'

Other developments

• AML/CTF compliance and reporting: AUSTRAC has called on Australian reporting entities to take note of FATF statements
• Supply chain risk: The ICAC has released a new procurement guide for the NSW public sector to assist in conducting due diligence checks on potential suppliers

• Commonwealth penalty unit to increase from $210 to $222 from 1 July 2020