Listing rule changes introduce a nine-year tenure limit for independent directors and requirements for enhanced remuneration disclosures in annual reports.
January 11, 2023The revisions impose stronger corporate social responsibility obligations and require shareholders to make capital contributions if a company cannot repay its debts.
January 8, 2023Banks and insurers must incorporate consumer protection mechanisms into their corporate governance, culture-building exercises, and business development strategies.
January 5, 2023Directors, trustees, and officers can also be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.
December 30, 2022The evaluation indicators were revised to increase focus on areas such as major shareholders, party leadership, shareholder equity, related transactions, and director nomination.
December 6, 2022The first guidance document covers enhanced customer due diligence procedures. The second covers the measures for screening employees and training them on ML/TF risks.
November 4, 2022Based on the number of negative findings in the files ASIC assessed, EY demonstrated the highest quality audits, followed by BDO and PwC.
November 2, 2022Residential addresses and full ID numbers will be replaced with correspondence addresses and partial ID numbers. FIs can still apply for access to the full data.
October 30, 2022The guidance provides a reference for how independent directors should be selected, how they should perform their duties, and their role in audit committees.
October 5, 2022The FSC will be able to dismiss board members of investment firms or revoke their business licences entirely if fund managers are involved in fraud.
September 20, 2022