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Governance, Risk & Compliance
With increasing complexity and government intervention, corporate governance and regulatory compliance have undergone significant change. The compliance and enforcement powers of regulators have expanded with recent law reform in consumer credit, consumer law, cartels and increased criminal and civil penalty sanctions for directors and officers.
Traditionally, corporate issues were dealt with by the company secretary; risk by the risk management officer; and compliance by either in-house counsel or an internal compliance officer. This approach can lead to duplication, inefficiencies and, in some cases, mistakes.
Risk management and compliance are fundamental responsibilities of the board which need to be aligned with an organisation's strategic objectives and managed in an efficient and sustainable manner.
Understanding key risks and legal obligations and appropriately delegating, monitoring and managing those responsibilities are the most effective ways for a board to deal with risk.
Our team offers clients a unique perspective in dealing with key regulators and acts for clients across a broad range of industries and corporate structures.
Expertise
- Corporate governance for listed and unlisted companies: Board structures and committees, compliance with the listing rules and the Corporations Act, continuous disclosure, share trading policies, investor relations, shareholder agreements and reporting.
- Directors' and officers' duties: Indemnities and insurance, disclosure of interests, remuneration and related party transactions.
- Trade Practices and Consumer law: Advertising and distribution, contracting with consumers and small business, financial services and consumer credit, licensing and disclosure.
- Dealing with regulators and managing class actions.
- Compliance: risk management policies, procedures and audit programs.
To read how our Workplace team can assist you with managing risks in the workplace and complying with OH&S legislation, please read our Workplace page.
To view a complete list of our updates on governance, risk and compliance issues, please click here.
Experience
Members of our team have broad-ranging experience including:
- Acting for and advising corporations and executives in relation to class actions, corporate governance, directors' duties, investigations by regulators and commercial disputes.
- Advising a former officer of GIO in the shareholder class action arising out of the hostile takeover bid made for GIO by AMP and advising former company officers in connection with proceedings arising out of the collapse of Ansett.
- Advising government, including government instrumentalities and corporations, on governance, legal obligations and risk management.
- Advising on all aspects of financial services compliance and risk management.
- Advice on the design, development and implementation of compliance and risk management policies and procedures in corporate governance and trade practices for listed and unlisted entities.
- Advising on compliance with consumer laws, including a review for government on statutory implied terms, advising an ASX listed company on sale and distribution, and advice on advertising, promotions and labelling.
- Providing training and other education targeted at a range of industries, including superannuation, financial planning, accounting and insurance.
- Advising on franchising networks and governance.
