In our December 2010 issue of Acumen, we published an article summarising the Exposure Draft - Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill 2011 and the associated Explanatory Memorandum released by the Parliamentary Secretary to the Treasurer on Monday, 20 December 2010. A copy of our Submission in response to that draft Bill was lodged on 20 January 2011 and can be downloaded here. In our submission we have not sought to comment on all aspects of the draft Bill, but rather have focused on those issues which we believe we are in a position to make a meaningful contribution. The nature of our comments reflects our position as a legal adviser to a number of significant Australian companies who will be affected by the proposed rules.
In proceedings brought in the Federal Court of Australia, ASIC has successfully established that one of the world’s largest investment managers contravened the ASIC Act when it made a series of...
2024 is off to brisk start in the cyber, privacy and data space – regulatory developments in cyber security and artificial intelligence (AI) continue at pace.
A recent Federal Court decision provides a useful distillation of the key principles that apply to unreasonable director-related transactions under s 588FDA of the Corporations Act.