JUMP TO
    eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuYW1laWQiOiIyMTYwNzNkMy1jYjlhLTRkN2QtYjdhNi1iMmVjYTMxMDM2YWYiLCJyb2xlIjoiQXBpVXNlciIsIm5iZiI6MTc4OTI0NDcwOCwiZXhwIjoxNzg5MjQ1OTA4LCJpYXQiOjE3ODkyNDQ3MDgsImlzcyI6Imh0dHBzOi8vd3d3Lm1pbnRlcmVsbGlzb24uY29tL2FydGljbGVzL2dvdmVybmFuY2UtbmV3cy05LWZlYnJ1YXJ5LTIwMjIiLCJhdWQiOiJodHRwczovL3d3dy5taW50ZXJlbGxpc29uLmNvbS9hcnRpY2xlcy9nb3Zlcm5hbmNlLW5ld3MtOS1mZWJydWFyeS0yMDIyIn0.TZ_2ckYFF82KNv7WGZubbdT6akUafpgJb2Zw4wJt_2k
    https://www.minterellison.com/articles/governance-news-9-february-2022
    CLOSE
    CONTACT US Search Minter Ellison
    • Post

    Governance News 9 February 2022

    50 minute read + (PDF download)  09.02.2022 Mark Standen, Siobhan Doherty, Kate Hilder

    This issue includes our key takeaways from an expert panel discussion (jointly hosted by the Governance Institute of Australia and Women on Boards) on recent developments in the Diversity and Inclusion space and separately coverage of a new report pinpointing where ASX 300 companies are 'lagging on modern slavery'.  The issue also covers various key financial services, regulatory and ESG developments and more…

    Full coverage of this weeks content is now available.

    Past issues are available

    read this issue
    eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuYW1laWQiOiI2MDdhYzYwNy0yNDE5LTRkZmEtYmQwOS00YmZiMWVhY2UzZDkiLCJyb2xlIjoiQXBpVXNlciIsIm5iZiI6MTc4OTI0NDcwOCwiZXhwIjoxNzg5MjQ1OTA4LCJpYXQiOjE3ODkyNDQ3MDgsImlzcyI6Imh0dHBzOi8vd3d3Lm1pbnRlcmVsbGlzb24uY29tL2FydGljbGVzL2dvdmVybmFuY2UtbmV3cy05LWZlYnJ1YXJ5LTIwMjIiLCJhdWQiOiJodHRwczovL3d3dy5taW50ZXJlbGxpc29uLmNvbS9hcnRpY2xlcy9nb3Zlcm5hbmNlLW5ld3MtOS1mZWJydWFyeS0yMDIyIn0.wvkRDhoaUavl-dXRWA49IP65WqaoQbmRzwbO3XkBp6M
    https://www.minterellison.com/articles/governance-news-9-february-2022

    Our most recent top stories

    Receive Governance News in your inbox.

    We provide weekly summaries of key regulatory and governance developments in Australia and overseas.

    Subscribe

    Boards and Directors Navigation Show below Hide below

    • Worker representation on (large) US boards? If legislated, the TEAM Act would establish a new mechanism for non-unionised workers to engage with company management, including at board level

    Diversity Navigation Show below Hide below

    • Top Story | 'Many watersheds' and 'many silver bullets': Key takeaways from an expert panel discussion on D&I issues
    • New research links gender diverse leadership to a higher chance of business success
    • In Brief | Joint analysis from the 30% Club and Deloitte looking at representation of women on boards globally has confirmed that progress is being made (though it remains slow). According to the report, globally women remain underrepresented in top roles, holding an average of 19.7% of board seats (up 2.8% since 2018), only 6.7% of board Chair positions and 5% of CEO roles

    Shareholder Activism Navigation Show below Hide below

    • Follow This has called on shareholders to back its climate resolution at Chevron ahead of the May AGM

    Institutional Shareholders and stewardship Navigation Show below Hide below

    • New report finds a majority of Climate Action 100+ investors continued to support directors of climate laggard companies in 2021
    • Ceres has released a guide to assist investors in engaging with US companies on material climate risks ahead of the 2022 proxy season

    Meetings and Proxy Advisers Navigation Show below Hide below

    • 'Boards need to appropriately manage their directors’ increasing time commitments': State Street has signalled a shift in approach to the issue of director 'overboarding'

    Disclosure and Reporting Navigation Show below Hide below

    • California is a step closer to legislating minimum climate disclosure requirements for large companies: The Climate Corporate Accountability Act has passed the Senate
    • In Brief | Greenwash? New report assessing the integrity of net zero climate pledges made by 25 major global companies found no company merited a 'high integrity rating' and the majority pledges were of low or very low integrity

    Markets and Exchanges Navigation Show below Hide below

    • ASX is consulting on proposed rule changes to facilitate the listing of CCIVs

    Regulators Navigation Show below Hide below

    • Labor led Senate Committee backs expansion of proposed CSLR, raises 'serious concerns about the performance of ASIC'
    • In Brief | ASIC Q4 2021 update: ASIC has released a recap of work undertaken between 1 October and 31 December 2021

    Financial Services Navigation Show below Hide below

    • Bill proposing to establish the cyclone and flood damage Reinsurance Pool introduced
    • Unfair contracts reform: Treasury Laws Amendment (Enhancing Tax Integrity and Supporting Business Investment) Bill 2022 proposes to (among other things) introduce a civil penalty regime prohibiting the use of UCT in standard form contracts
    • Senate Committee backs Bill proposing to establish the CCIV framework and introduce the retirement income covenant
    • CALC has called for the expansion of the draft terms of reference for the planned Quality of Advice Review to include consideration of conflicted remuneration
    • SAFAA has called for the Quality of Advice Review Draft Terms of Reference to be revised to focus on the 'full range' of financial advice services
    • Danske Bank to cut its fossil fuel lending by 50% by 2030
    • In Brief | Hayne case study: RI Advice Group Pty Ltd has been ordered by the Federal Court to pay a $6 million penalty for failing to take reasonable steps to ensure that its authorised representative provided appropriate financial advice, acted in his clients’ best interests; and put clients’ interests ahead of his own. ASIC Deputy Chair Sarah Court commented that the penalty 'sends a strong message to financial services licensees to properly monitor the advice given by their advisers to make sure consumers are protected.’

    Risk Management Navigation Show below Hide below

    • Top Story | Report finds ASX 300 companies are 'lagging' on modern slavery, suggests investors are crucial to driving improvement
    • In Brief | 'We say sorry': Formal apologies have been made in both Houses of Parliament to people who have experienced bullying, sexual harassment or sexual assault while working for the federal government on behalf of the Parliamentary Cross-Party Leadership Taskforce recommended by Commissioner Jenkins. The statement also confirms that 'We are fully committed to working across the Parliament to implement all of these recommendations within the timeframes proposed by Commissioner Jenkins'

    Other News Navigation Show below Hide below

    • Productivity Review: Productivity Commission tasked with identifying an 'actionable roadmap' to boost Australia's productivity
    • In Brief | Treasury has released a working paper highlighting that Australian firms are slower to adopt 'cutting edge technologies and processes' and to catch up to world-leading 'frontier firms' than they have been in the past. The paper suggests that the slowdown may 'reflect weaker incentives and imperatives for firms to improve…[indicating that] policies to address barriers to business dynamism and competitive pressures can improve Australia’s productivity performance, by increasing incentives for firms to adopt, innovate and improve'.

    Receive Governance News in your inbox.

    We provide weekly summaries of key regulatory and governance developments in Australia and overseas.

    Subscribe

    Contact

    Tags

    Governance Newsletter Boards & Directors Disclosure and Reporting Diversity Financial Services Governance Institutional Shareholders and Stewardship Markets & Exchanges Meetings & Proxy Advisors Overseas perspectives Regulators Risk management
    eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJuYW1laWQiOiI2NjY5Yjk1Yy04NTUyLTQ4M2EtYTJkOS00MjVjYWMxZWM4NzQiLCJyb2xlIjoiQXBpVXNlciIsIm5iZiI6MTc4OTI0NDcwOCwiZXhwIjoxNzg5MjQ1OTA4LCJpYXQiOjE3ODkyNDQ3MDgsImlzcyI6Imh0dHBzOi8vd3d3Lm1pbnRlcmVsbGlzb24uY29tL2FydGljbGVzL2dvdmVybmFuY2UtbmV3cy05LWZlYnJ1YXJ5LTIwMjIiLCJhdWQiOiJodHRwczovL3d3dy5taW50ZXJlbGxpc29uLmNvbS9hcnRpY2xlcy9nb3Zlcm5hbmNlLW5ld3MtOS1mZWJydWFyeS0yMDIyIn0.o3tnG4H3X_q4DsA-FG-yLb0CXdDa1HYh6RCB9Uh_Tr8
    https://www.minterellison.com/articles/governance-news-9-february-2022

    Read Next

    Point of View: insights into key issues and challenges facing business today.

    In this series of interviews with MinterEllison partners we hear their perspective on key areas of interest to our clients and the business community.

    Watch now

    © 2026 MinterEllison