Financial and Insurance industry takes a Royal Commission hit in Australian Board Remuneration Survey 2019
The Governance Institute, in partnership with McGuirk Consultants, have released the results of its seventh annual Australian Board Remuneration Survey report. While remuneration is up for board chairs and directors across the board, it is down for Financial and Insurance sector organisations.
Regulatory Reform, Brand/Reputation management, Increased Competition, Talent Management and Cyber-crime risks round out the top 5 spots
The Governance Institute of Australia welcomes today’s announcement by the Federal Labor Party to invest $3 million into a new Competition and Growth Taskforce, which will focus on corporate governance issues such as AGM reform, boosting shareholder engagement and corporate reporting.
$600m announced for ASIC & APRA to tackle Banking Royal Commission recommendations
The Governance Institute of Australia welcomes the Federal Government’s 2019 Budget. Funding increases for the financial sector’s key regulators, ASIC ($400m) and APRA ($150m), as well as a the expansion of the Federal Court’s remit ($35m) to prosecute white collar crime will help drive accountability in the financial sector.
New ASX Principles demand better corporate culture, ethics, diversity and environmental risk reporting
Wednesday, 27 February, 2019 - Following extensive consultation, the Fourth Edition of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations was released today, providing updated guidance for ASX-listed companies reporting on corporate governance, such as culture and ethics, workplace diversity and environmental risk.
Reinforcing a good culture based around ethical conduct and accountability as part of governance frameworks will be vital to acting on the Commission’s report. The Governance Institute of Australia welcomes the release of the Banking Royal Commission’s final report, and especially its focus on fixing the sector’s failings of culture and governance.