Boardroom Brief: Week commencing 5 February 2024

This is a service specifically targeted at the needs of busy non-executive directors (NEDs). 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 discuss guidance released by the Australian Securities and Investment Commission (ASIC) on pre-hedging practices in Australia, and a speech by ASIC Chair Mr Joe Longo and research papers released by the Productivity Commission on the regulation of artificial intelligence (AI) in Australia. We also examine Australian Prudential Regulation Authority’s (APRA) priorities for the first half of 2024, and the Australian Competition and Consumer Commission’s (ACCC) calls for merger law reform. We also examine the outcome of Federal Court proceedings against Westpac Banking Corporation (Westpac) for unconscionable conduct, and the Takeovers Panel’s recent observations in relation to confidentiality and media canvassing. In Over the Horizon, we discuss calls for reformation to the Australian taxation system and the hope for transparent discussion at a summit proposed by the Business Council of Australia (BCA).