Topic: Regulatory

Time to take a look behind the ‘social licence’ buzzword

The debate about the corporate ‘social licence’ and overhaul of shareholder primacy has confused directors about the action they need to take right now to comply with their duties while also leading to calls for law reform that may do more harm than good. What is the problem? Post-Hayne Royal Commission, one can barely go … Continue Reading

Results released from 2019 Reputational Risk Australia survey report

What does reputational risk mean to Australian organisations? Read our Reputational Risk Australia report to find out. When it comes to questions of reputation in the workplace, the shadow of the Hayne Royal Commission hangs heavy over major Australian organisations. In the year of Hayne’s landmark report on the conduct of Australian financial institutions, measuring, … Continue Reading

Quelling the Extinction Rebellion: Climate risks must be addressed regardless of boycotts

What are the proposed reforms? The last month has seen ‘Extinction Rebellion’ climate protests on a major scale, with environment groups calling on consumers and investors to cut ties with energy companies, manufacturers and other entities heavily reliant on fossil fuels. This has extended to demands for boycotts on banks and insurers supporting new resources … Continue Reading

The time is now: Climate risk a mandatory issue for all boards

The false narrative develops yet again On 31 October 2019, the NZ Government released a Discussion Paper outlining mandatory principles-based disclosure of climate risks for all companies. Importantly, disclosure will use the framework outlined in the June 2017 final report of the G20 Financial Stability Board’s Taskforce on Climate-Related Financial Disclosures (TCFD Framework). The TCFD … Continue Reading

ASIC declares “watershed time” for companies to improve focus on non-financial risk

ASIC’s Corporate Governance Task Force today, 2 October 2019, issued its report on Director Oversight of Non-Financial Risk (NFR). The report’s findings underline the critical observations made by Commissioner Hayne in February this year on the widespread challenges faced by Boards and Senior Management in managing NFR. ASIC reviewed the practices of seven of the … Continue Reading

Spotlight on risk management: APRA commissioned self-assessments of governance, accountability and culture

APRA’s recently released Information Paper, regarding the recent self-assessments undertaken by financial institutions, indicates focus areas for APRA in the upcoming period of regulatory supervision. APRA called for self-assessments on a range of ADIs, insurers and super funds and asked those entities to assess their present capabilities in non-financial risk management as well as in … Continue Reading