National Integrity Spotlight – June 2024

In this month’s edition of the National Integrity Spotlight, we consider the most recent updates from the NACC, including the decisions made in relation to the Robodebt referrals. We also provide details of the various reports released by the Senate Inquiry into management consultants, and State anti-corruptions bodies including the NSW ICAC, SA ICAC, NT ICAC […]

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ASIC issues infringement notices to Fertoz Limited for alleged greenwashing

On 25 June 2024, the Australian Securities & Investments Commission (ASIC) confirmed that, on 21 June 2024, Fertoz Limited (Fertoz) had paid $37,560 in compliance with two infringement notices issued by ASIC in relation to alleged false or misleading statements that Fertoz had made in respect of its Reforestation Project in the Philippines. In issuing […]

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Uncovering greenwashing: ASIC’s latest pursuit of accountability – Judgment against Active Super

Last week, the Federal Court found that the superannuation fund Active Super had made misleading representations concerning its commitment to environmental, social and governance (ESG) factors in its investment decision-making. On 10 August 2023, the Australian Securities and Investments Commission (ASIC) commenced proceedings against the Local Government Superannuation Scheme (LGSS), as trustee of Active Super, […]

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National Integrity Spotlight – May 2024

In this month’s edition of the National Integrity Spotlight, we consider the most recent updates from the NACC, consultation on the prevention of bribery of foreign public officials, and updates from various integrity bodies.  NACC Update Referral and Assessment Update The National Anti-Corruption Commission (NACC) continues to provide regular updates on the number of referrals […]

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Mandatory sustainability reporting regime: An update – Second reading debate completed

In the March 2024 edition of Gadens’ FMCG Express, we discussed the exposure draft of the Treasury Laws Amendment Bill 2024: Climate-related financial disclosure (Draft Legislation), which outlined a proposal for the implementation of a mandatory climate-related financial disclosure regime based on existing international frameworks and standards. On 27 March 2024, the Treasury Laws Amendment […]

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National Integrity Spotlight – April 2024

In this month’s edition of the National Integrity Spotlight, we consider the most recent updates from the NACC, updates from various state-based integrity bodies, the OECD’s recent Outlook report, and recent activities of the Australian Federal Police.  NACC Update  Referral and Assessment Update   The National Anti-Corruption Commission (NACC) continues to provide regular updates on the […]

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ASIC issues infringement notices to an auditor for failing to comply with independence standards

The Australian Securities & Investments Commission (ASIC) has, for the first time, issued infringement notices pursuant to the Corporations Act 2001 (Cth) (the Act) alleging that an auditor failed to comply with his audit rotation obligations. Allegations Following a voluntary disclosure to ASIC by the auditor pursuant to section 311 of the Act, ASIC stated […]

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National Integrity Spotlight – March 2024

In this month’s edition of the National Integrity Spotlight, we consider the most recent updates from the NACC, updates from the WA CCC, the High Court’s decision in a matter relating to the Victorian IBAC, NSW ICAC’s finalisation of its investigation into a public officer, and a special report of the ACT Integrity Commission. NACC […]

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ASIC secures victory against Vanguard Investments for ‘ethically conscious’ greenwashing conduct

Last year, we reported on the Australian Securities and Investments Commissions (ASIC) commencement of proceedings against Vanguard Investments Australia Ltd (Vanguard) alleging that Vanguard engaged in misleading conduct in breach of the ASIC Act by making false or misleading claims about the ESG criteria applied to an investment fund it offered to potential investors. On […]

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National Integrity Spotlight – February 2024

In this month’s edition of the National Integrity Spotlight, we consider the most recent updates from the NACC, developments from various state corruption and integrity bodies, a new OAIC investigation, and recent notable updates from the AFP. NACC Update Referral and Assessment Update The National Anti-Corruption Commission (NACC) continues to provide regular updates on the […]

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National Integrity Spotlight – January 2024

In this month’s edition of the National Integrity Spotlight, we consider the most recent updates from the NACC, developments from various state corruption and integrity bodies, and how Australia scored on the 2023 Corruption Perceptions Index. NACC Update Referral and Assessment Update The National Anti-Corruption Commission (NACC) continues to provide regular updates on the number […]

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