Proceedings at the banking royal commission suggest if it isn’t in the minutes of a board meeting, the board didn’t consider it. It makes the role of the company secretary critical.
Frydenberg and Porter said ASIC’s increased enforcement activity was expected to lead to “more prosecutions by the CDPP and more civil
corporate misconduct cases before the Federal Court.”
We rightly expect trustees of superannuation funds to do their jobs. Much stronger behavioural controls and civil penalties are needed to ensure they do.
Women in investment management face sexist treatment and no accommodation of parenting responsibilities. That’s bad news for a sector critical to all Australians’ economic security.
How can our major institutions, particularly from the banking and finance sector retain their corporate legitimacy? What role should their boards be playing?
Rather than introducing still more laws to regulate banks there is a case for stripping down the ones we have got to make their aims crystal clear, Commissioner Hayne says in his interim report.
It is a furphy that regulation for good corporate culture is impossible. It is done in the Netherlands and it is already under way in Australia, albeit in an unacknowledged, and limited, form.
Executive Director @ Australian Institute of Performance Sciences, Strategic Partner @ Swinburne University MedTechVic, and Visiting Fellow at the Institute of Public Policy and Governance at, University of Technology Sydney