20 April, 2019
The newly released ASX Corporate Governance Principles and Recommendations contain a potent mix of new and increased expectations for company directors.
The changes comprise a mix of the obvious, an extension and expansion of the expectations of boards, a possible increase in potential director liabilities and an elevated governance and documentation regime within listed entities for internal counsel and company secretaries to help manage.
The final position that has been adopted takes into account the key recommendations arising from the Hayne banking royal commission report and applies them more broadly to ASX-listed entities. It focuses on the intersection between culture, remuneration, the division of responsibilities between board and management, as well as the timely information flow from management to the board of both financial and non-financial matters.
For the full article, please click here.
For further information, please contact:
Richard Lustig, Partner, Baker & McKenzie
richard.lustig@bakermckenzie.com
