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Audits find no signs of Wells Fargo misconduct in Australia

08/08/2017

Wells Fargo Bank’s illegal practice of opening accounts without customers’ knowledge is not rife in Australia, but improvements should be made in the way consumer credit insurance (CCI) is sold.

That’s the view of the Australian Securities & Investments Commission (ASIC) after reviewing the results of audits by eight Australian banks looking at whether the systemic misconduct uncovered at Wells Fargo was occurring in Australia.

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ACNC makes annual reporting easier

08/08/2017

The Australian Charities and Not-for-profits Commission (ACNC) has announced several improvements to the 2017 Annual Information Statement (AIS) process. These include a new hub, re-designed guidance material and an enhanced online form.

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Government sets the ball rolling for new financial complaints body

08/08/2017

The government has created a transition team to oversee the establishment of the Australian Financial Complaints Authority (AFCA), a one-stop-shop for resolving financial and superannuation disputes.

The team, tasked with ensuring the AFCA is operational by 1 July 2018, will be chaired by Dr Malcolm Edey, the former Assistant Governor (Financial System) of the Reserve Bank of Australia.

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New publication available for download

08/08/2017

Governance Institute of Australia has released a new publication, Continuous Disclosure: listed and other disclosing entities. It provides an invaluable guide to the essentials of continuous disclosure and particularly what it involves in practice.

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Have your say on risk and resilience

08/08/2017

How can governance and culture can support improved risk resilience through times of change?

In partnership with KordaMentha, we are surveying our readership on how they and their organisations face change. 

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The tricky question of rewarding whistleblowers

11/07/2017

No one should be worse off for blowing the whistle on misconduct and all whistleblowers should have greater access to compensation if they suffer a detriment as a result of their whistleblowing.

That was the view of Minister for Revenue and Financial Services, Kelly O’Dwyer, when addressing a University of Melbourne Whistleblowing seminar in Melbourne in June.

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Latest media releases

Unintended consequences flow from proposal requiring companies to keep email addresses on their share registers

02/08/2017

Senator Nick Xenophon’s proposal to amend the Corporations Act requiring companies to include members’ email address on their share register has far reaching legal consequences, Governance Institute of Australia will tell the Senate Economics Legislation Committee today.

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Nearly 80 per cent of Australians believe high CEO salaries unethical

01/08/2017

The second annual Governance Institute of Australia Ethics Index shows a continuing gap between Australians’ expectations and perceptions of the ethicality of behaviour in many sectors and industries. Executive pay proved especially troublesome, with 77  per cent of Australians believing a CEO salary of $3 million a year (i.e. 50 times the average Australian’s yearly income) is unethical. 

 

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New research confirms protections for whistleblowing ‘a must’

04/05/2017

The interim findings of the  world’s largest research project into whistleblowing by Griffith University reinforces the need for a stand-alone, ‘one-stop-shop’ Act for corporate whistleblowers claims Governance Institute of Australia, saying that regulator -specific provisions across many pieces of legislation do not provide the best protection for those exposing misconduct.

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Directors must have the option to return insolvent companies to profitability

27/04/2017

Governance Institute of Australia is of the strong view that directors must have the option to be able to return a company to profitability, claiming this will deliver better outcomes  for all stakeholders including creditors who are more likely to be paid as the business is returned to viability.

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Governance Institute launches ‘must-have’ guide for aged care directors

20/02/2017

With profitability, return on assets and equity under pressure in what is soon to be the largest employer in the country, Governance Institute of Australia’s Adding value to governance in aged care is a ‘must have’ guide for directors and senior management facing the governance challenges of a sector going through unprecedented disruption.

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Governance Institute calls for ‘one-stop’ shop for whistleblowers

15/02/2017

Governance Institute has called for a stand-alone, ‘one-stop-shop’ Act for corporate whistleblowers, saying that regulator -specific provisions across many pieces of legislation will not provide the best protection for those exposing misconduct.

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