Australia

Big Picture

Australian Asset Owner Mandates Omit Climate

By ESG Investor | 10/03/2023

Only a “small number” issuing specific decarbonisation or net zero requirements; IGCC urges investors to “translate aspirations into action”.

Enforcement

ASIC Issues Stop Orders Against Interactive Brokers’ Securities Lending Product

By Editors | 09/03/2023

ASIC says Interactive Brokers inappropriately included investors in the target market that didn’t align with the features and risks of the product.

Enforcement

ACCC Enforcement to Prioritise Misleading Environmental Claims

By Sanday Chongo Kabange | 08/03/2023

The ACCC has established a new taskforce that will focus on sustainability and its intersection with competition and consumer law.

Australia Proposes Rules to Support New Foreign Ownership Register

By Editors | 05/03/2023

Proposed amendments prescribe the circumstances in which foreign investors must report certain interests and information for inclusion in the new Register.

Enforcement

ASIC Launches First Court Action Alleging Whistleblower Victimisation

By Sanday Chongo Kabange | 05/03/2023

ASIC alleges coal producer TerraCom and its directors and officers breached the whistleblower protection regulations which came into force in July 2019.

ESG / Sustainability

ACCC Internet Sweep Reveals Widespread Greenwashing by Businesses

By Sanday Chongo Kabange | 03/03/2023

Out of 247 businesses reviewed during the ACC’s internet sweep, 57 percent made “concerning claims about their environmental credentials”.

Enforcement

ASIC Issues New Guidance on Whistleblower Programmes

By Sanday Chongo Kabange | 03/03/2023

The guidance is intended to help entities improve their whistleblower handling arrangements and encourage speak up.

Crypto / Digital Assets

RBA Selects Use Cases to be Tested in Live CBDC Pilot

By Manesh Samtani | 03/03/2023

ANZ is involved in four case proposals; CBA is involved in two. Mastercard and Cuscal propose to use CBDC to enable consumers to buy NFTs.

ESG / Sustainability

NZX Amends Corporate Governance Code to Raise ESG Bar

By Sanday Chongo Kabange | 02/03/2023

The amendments cover ethics training, director independence, diversity policies, conflicts of interest, and ESG and climate reporting.