Australia

Australia Proposes Rules to Support New Foreign Ownership Register

By Editors | 05/03/2023

Proposed amendments prescribe the circumstances in which foreign investors must report certain interests and information for inclusion in the new Register.

Enforcement

ASIC Launches First Court Action Alleging Whistleblower Victimisation

By Sanday Chongo Kabange | 05/03/2023

ASIC alleges coal producer TerraCom and its directors and officers breached the whistleblower protection regulations which came into force in July 2019.

ESG / Sustainability

ACCC Internet Sweep Reveals Widespread Greenwashing by Businesses

By Sanday Chongo Kabange | 03/03/2023

Out of 247 businesses reviewed during the ACC’s internet sweep, 57 percent made “concerning claims about their environmental credentials”.

Enforcement

ASIC Issues New Guidance on Whistleblower Programmes

By Sanday Chongo Kabange | 03/03/2023

The guidance is intended to help entities improve their whistleblower handling arrangements and encourage speak up.

Crypto / Digital Assets

RBA Selects Use Cases to be Tested in Live CBDC Pilot

By Manesh Samtani | 03/03/2023

ANZ is involved in four case proposals; CBA is involved in two. Mastercard and Cuscal propose to use CBDC to enable consumers to buy NFTs.

ESG / Sustainability

NZX Amends Corporate Governance Code to Raise ESG Bar

By Sanday Chongo Kabange | 02/03/2023

The amendments cover ethics training, director independence, diversity policies, conflicts of interest, and ESG and climate reporting.

Market Infrastructure

ASX Issues 3rd Consultation on Measures for Handling Outages

By Sanday Chongo Kabange | 02/03/2023

ASX is consulting on enhancements to its test strategy, interconnectedness with other market operators, and its BCP strategy.

Enforcement

ASIC Commences First Court Action for Alleged Greenwashing

By Sanday Chongo Kabange | 28/02/2023

ASIC alleges Mercer Superannuation made misleading statements about investment options that were marketed as suitable for members ‘deeply committed to sustainability’.

Market Infrastructure

Australia Seeks Input to Craft New 7-Year Cyber Security Strategy

By Editors | 28/02/2023

A new discussion paper released by the government says the Optus and Medibank incidents made clear that the government was “ill-equipped to respond”.