This is a service specifically targeted at the needs of busy non-executive directors. We aim to give you a “heads up” on the things that matter for NEDs in the week ahead - all in two minutes or less. In this Edition, we consider the Treasury’s Consultation Paper on proposed reforms to the regulation of proxy advice; IOSCO’s review of ASIC (and other international trading venue and market intermediaries’) business continuity plans; the ACNC Commissioner’s statement regarding fair and open fundraising in Australia; and consultation on insolvency reforms.
GOVERNANCE & REGULATION
Treasury announces proposed reforms to regulation of proxy advisors. Consultation Paper
IOSCO guidance on business continuity plans for trading venues and market intermediaries. IOSCO Report media release
Fair and open fundraising respects Australia’s generosity. media release
LEGAL
Government to consult on further insolvency reforms. consultation page
OVER THE HORIZON
Budget. At the time of writing, Commonwealth Treasurer Hon Josh Frydenberg will be putting the finishing touches on the Commonwealth Government’s budget for the 2022 financial year. Most of the substantive initiatives have been broadly flagged, with an emphasis on repairing the economic fallout from the COVID-19 pandemic. Of particular interest to directors will be further details of a planned $10bn infrastructure spending programme and support for the ailing aged care sector. The tourism, travel and education sectors will also be looking for clues as to the potential timing for a reopening of international borders: which now appears unlikely until next year at the earliest.